Brooklyn Investment Group Decreases Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Brooklyn Investment Group lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,388 shares of the company’s stock after selling 234 shares during the period. Brooklyn Investment Group’s holdings in Airbnb were worth $176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABNB. Edgewood Management LLC raised its position in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares during the period. Legal & General Group Plc lifted its position in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after acquiring an additional 153,784 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after acquiring an additional 52,358 shares in the last quarter. Finally, MKA Charitable Fund boosted its holdings in Airbnb by 17.2% in the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after acquiring an additional 296,153 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the company’s 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 completion of the transaction, 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 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 718,017 shares of company stock worth $91,842,052. 27.83% of the stock is owned by company insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $138.28 on Thursday. The company has a market cap of $87.67 billion, a P/E ratio of 48.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15. The company’s fifty day moving average is $133.86 and its two-hundred day moving average is $135.47. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABNB. UBS Group lifted their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush lifted their price target on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. DA Davidson upped their price objective on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Piper Sandler lifted their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, TD Cowen boosted their price target on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $138.97.

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.