Wallace Advisory Group LLC Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

Wallace Advisory Group LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,004 shares of the company’s stock after selling 343 shares during the period. Wallace Advisory Group LLC’s holdings in Airbnb were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ABNB. Pacer Advisors Inc. grew its position in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the period. Meritage Group LP acquired a new position in Airbnb in the third quarter valued at $160,985,000. Edgewood Management LLC boosted its holdings 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 acquiring an additional 1,143,464 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Airbnb by 19,430.3% in the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after acquiring an additional 1,113,747 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its holdings in Airbnb by 91.3% in the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after acquiring an additional 1,109,076 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $128.85 on Tuesday. The company has a market capitalization of $81.69 billion, a price-to-earnings ratio of 45.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The business has a 50 day moving average price of $134.82 and a two-hundred day moving average price of $132.39.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the company earned $2.39 earnings per share. Research analysts predict that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $135.82, for a total value of $5,223,773.02. Following the completion of the transaction, the chief executive officer now owns 12,498,908 shares in the company, valued at $1,697,601,684.56. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 915,997 shares of company stock worth $122,800,660 over the last ninety days. Company insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research note on Monday. Citigroup boosted their price target on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wedbush boosted their price objective on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, TD Cowen boosted their price objective on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $139.32.

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.