Rakuten Securities Inc. Has $55,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

Rakuten Securities Inc. lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 436 shares of the company’s stock after selling 77 shares during the quarter. Rakuten Securities Inc.’s holdings in Airbnb were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABNB. Transcendent Capital Group LLC bought a new position in Airbnb during the 1st quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Airbnb in the third quarter valued at about $25,000. Hollencrest Capital Management increased its position in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares during the period. New Millennium Group LLC acquired a new stake in Airbnb in the 2nd quarter worth about $28,000. Finally, Cultivar Capital Inc. bought a new stake in Airbnb in the 2nd quarter valued at about $30,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 3.1 %

NASDAQ:ABNB opened at $133.20 on Wednesday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The firm has a 50-day moving average price of $129.54 and a two-hundred day moving average price of $137.20. The firm has a market cap of $85.46 billion, a price-to-earnings ratio of 46.74, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 33.36% and a net margin of 16.96%. During the same quarter in the previous year, the firm earned $2.39 earnings per share. On average, equities analysts expect that Airbnb, Inc. will post 4.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABNB shares. Morgan Stanley lifted their price objective on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Robert W. Baird boosted their price target on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Raymond James initiated coverage on shares of Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective on the stock. The Goldman Sachs Group decreased their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial cut their price target on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.31.

Insider Buying and Selling

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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction dated 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 owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now directly owns 192,244 shares in the company, valued at approximately $26,016,380.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by company insiders.

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.