Amalgamated Bank Sells 2,249 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Amalgamated Bank cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,961 shares of the company’s stock after selling 2,249 shares during the period. Amalgamated Bank’s holdings in Airbnb were worth $11,662,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in shares of Airbnb in the 1st quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Airbnb during the second quarter valued at about $28,000. Heritage Wealth Advisors boosted its holdings in shares of Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Airbnb in the 1st quarter worth approximately $33,000. Finally, Cultivar Capital Inc. bought a new position in shares of Airbnb during the 2nd quarter worth approximately $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,806 shares of company stock valued at $51,809,831. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $137.82 on Wednesday. The firm has a market capitalization of $88.43 billion, a PE ratio of 18.75, a PEG ratio of 1.93 and a beta of 1.15. The company has a current ratio of 1.41, a quick 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 firm’s 50-day moving average price is $127.29 and its 200 day moving average price is $137.91.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. The Goldman Sachs Group dropped their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Wedbush dropped their price target on Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial cut their target price on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus target price of $135.35.

Airbnb Profile

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.