Exchange Traded Concepts LLC Sells 4,977 Shares of Airbnb, Inc. $ABNB

Exchange Traded Concepts LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 26.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,680 shares of the company’s stock after selling 4,977 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Airbnb were worth $1,661,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABNB. Charles Schwab Investment Management Inc. boosted its stake in Airbnb by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company’s stock worth $387,186,000 after buying an additional 31,120 shares during the period. Plato Investment Management Ltd boosted its stake in shares of Airbnb by 53.1% during the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock worth $2,291,000 after purchasing an additional 6,579 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Airbnb by 52.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock worth $293,590,000 after purchasing an additional 850,719 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Airbnb by 5.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 159,676 shares of the company’s stock valued at $21,132,000 after purchasing an additional 8,605 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in Airbnb by 52.7% in the 2nd quarter. Cetera Investment Advisers now owns 112,460 shares of the company’s stock worth $14,883,000 after purchasing an additional 38,822 shares during the period. Institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other news, insider Nathan Blecharczyk sold 141,063 shares of Airbnb stock in a transaction on Monday, December 8th. The stock was sold at an average price of $121.96, for a total value of $17,204,043.48. Following the transaction, the insider directly owned 11,520 shares in the company, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 51,230 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the completion of the transaction, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. The trade was a 52.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,754,606 shares of company stock valued at $214,342,160 over the last ninety days. 27.91% of the stock is owned by company insiders.

Airbnb Price Performance

ABNB stock opened at $136.82 on Friday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The business has a 50-day moving average price of $124.73 and a 200 day moving average price of $127.58. The company has a market capitalization of $84.22 billion, a P/E ratio of 32.50, a PEG ratio of 2.41 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the business posted $2.13 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ABNB. BNP Paribas Exane began coverage on Airbnb in a research report on Monday, November 24th. They set a “neutral” rating for the company. Royal Bank Of Canada upgraded Airbnb from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $145.00 to $170.00 in a report on Wednesday, December 17th. DA Davidson reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research report on Friday, December 5th. Jefferies Financial Group lifted their target price on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $165.00 price target on shares of Airbnb in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.48.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.