Harvest Portfolios Group Inc. Sells 4,774 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Harvest Portfolios Group Inc. decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,103 shares of the company’s stock after selling 4,774 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Airbnb were worth $7,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Airbnb by 2.4% during the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after acquiring an additional 3,558,178 shares in the last quarter. Legal & General Group Plc raised its position in shares of Airbnb by 4.7% in 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. Alphinity Investment Management Pty Ltd lifted its stake in shares of Airbnb by 1.6% in the 1st quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock valued at $418,341,000 after purchasing an additional 39,129 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Airbnb by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 2,001,711 shares of the company’s stock valued at $330,202,000 after purchasing an additional 12,200 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of ABNB stock opened at $140.63 on Wednesday. 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, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The firm has a market cap of $90.23 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.93 and a beta of 1.15. The business’s 50 day moving average price is $127.29 and its 200-day moving average price is $137.91.

Airbnb (NASDAQ:ABNB) last released 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 company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm earned $0.98 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.17 earnings per share for the current year.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,259,958.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,806 shares of company stock valued at $51,809,831. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Raymond James assumed coverage on shares of Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Monday, August 26th. Finally, Truist Financial cut their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Five equities research 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. According to MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average price target of $135.35.

Airbnb Company 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.