Great Valley Advisor Group Inc. Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Great Valley Advisor Group Inc. lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 55.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,461 shares of the company’s stock after selling 3,053 shares during the period. Great Valley Advisor Group Inc.’s holdings in Airbnb were worth $312,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Farrow Financial Inc. raised its stake in Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after purchasing an additional 69 shares during the period. GYL Financial Synergies LLC raised its stake in Airbnb by 5.0% during the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after purchasing an additional 76 shares during the period. HB Wealth Management LLC raised its stake in Airbnb by 1.6% during the second quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock worth $749,000 after purchasing an additional 76 shares during the period. Optas LLC raised its stake in shares of Airbnb by 4.5% in the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock valued at $277,000 after acquiring an additional 78 shares during the period. Finally, Sage Mountain Advisors LLC raised its stake in shares of Airbnb by 1.1% in the 2nd quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock valued at $1,113,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 718,017 shares of company stock worth $91,842,052 in the last ninety days. 27.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABNB. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada cut their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group raised their target price 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. DA Davidson raised their target price on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Finally, B. Riley lowered their price target on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $138.97.

Airbnb Trading Down 1.0 %

Shares of NASDAQ:ABNB opened at $138.28 on Thursday. The company has a market cap of $87.67 billion, a PE ratio of 48.52, a P/E/G ratio of 2.00 and a beta of 1.15. The company’s 50-day moving average price is $133.86 and its 200 day moving average price is $135.47. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. 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 (NASDAQ:ABNB) last issued its quarterly earnings data 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). The firm had revenue of $3.73 billion during 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 quarter in the prior year, the business earned $2.39 earnings per share. Sell-side analysts anticipate that Airbnb, Inc. will post 4.02 earnings per share for the current year.

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.