US Bancorp DE Sells 45,417 Shares of Airbnb, Inc. (NASDAQ:ABNB)

US Bancorp DE lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 23.2% during the 3rd quarter, Holdings Channel reports. The fund owned 150,428 shares of the company’s stock after selling 45,417 shares during the period. US Bancorp DE’s holdings in Airbnb were worth $19,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Meitav Investment House Ltd. boosted its position in Airbnb by 4,938.0% during the 3rd quarter. Meitav Investment House Ltd. now owns 113,758 shares of the company’s stock valued at $14,403,000 after acquiring an additional 111,500 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in Airbnb by 37.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 705 shares of the company’s stock valued at $89,000 after acquiring an additional 193 shares in the last quarter. Trajan Wealth LLC boosted its position in Airbnb by 54.2% during the 3rd quarter. Trajan Wealth LLC now owns 82,522 shares of the company’s stock valued at $10,465,000 after acquiring an additional 29,013 shares in the last quarter. Andina Capital Management LLC boosted its position in Airbnb by 3.2% during the 3rd quarter. Andina Capital Management LLC now owns 4,106 shares of the company’s stock valued at $521,000 after acquiring an additional 127 shares in the last quarter. Finally, Trinity Street Asset Management LLP boosted its position in Airbnb by 7.2% during the 3rd quarter. Trinity Street Asset Management LLP now owns 167,378 shares of the company’s stock valued at $21,225,000 after acquiring an additional 11,251 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABNB. The Goldman Sachs Group lowered their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Truist Financial lowered their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. B. Riley lowered their price objective on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wedbush lowered their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, TD Cowen lowered their price objective on Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.35.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total value of $75,942.00. Following the completion of the sale, the chief technology officer now owns 205,774 shares in the company, valued at approximately $26,044,815.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 418,406 shares of company stock worth $51,885,773. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of Airbnb stock opened at $136.46 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The business has a 50-day moving average price of $126.86 and a 200 day moving average price of $138.34. The firm has a market cap of $87.56 billion, a PE ratio of 18.57, a P/E/G ratio of 1.93 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.17 earnings per share for the current fiscal year.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.