Grassi Investment Management Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Grassi Investment Management cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,620 shares of the company’s stock after selling 300 shares during the quarter. Grassi Investment Management’s holdings in Airbnb were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Koshinski Asset Management Inc. raised its position in Airbnb by 3.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,305 shares of the company’s stock valued at $292,000 after purchasing an additional 85 shares during the last quarter. Edge Capital Group LLC raised its position in Airbnb by 1.2% during the 2nd quarter. Edge Capital Group LLC now owns 7,617 shares of the company’s stock valued at $1,155,000 after purchasing an additional 87 shares during the last quarter. Lazari Capital Management Inc. raised its position in Airbnb by 3.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 2,517 shares of the company’s stock valued at $382,000 after purchasing an additional 88 shares during the last quarter. First Horizon Advisors Inc. raised its position in Airbnb by 19.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock valued at $74,000 after purchasing an additional 94 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Airbnb by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock valued at $468,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group increased their target price on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their target price on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Monday. JMP Securities reissued a “market perform” rating on shares of Airbnb in a research report on Monday, December 16th. Citigroup increased their target price on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Truist Financial decreased their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $139.32.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $133.51, for a total value of $80,106.00. Following the sale, the chief technology officer now directly owns 193,444 shares of the company’s stock, valued at approximately $25,826,708.44. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the sale, the chief executive officer now directly owns 12,616,300 shares in the company, valued at $1,765,525,022. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 916,597 shares of company stock valued at $122,880,766. 27.83% of the stock is currently owned by insiders.

Airbnb Price Performance

NASDAQ:ABNB traded down $0.70 on Monday, reaching $128.93. 2,159,885 shares of the company’s stock traded hands, compared to its average volume of 3,463,281. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $134.98 and a 200-day simple moving average of $132.55. The firm has a market cap of $81.74 billion, a PE ratio of 45.24, a P/E/G ratio of 1.93 and a beta of 1.13. 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 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 net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the business earned $2.39 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 3.99 earnings per share for the current 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.