Pacer Advisors Inc. Sells 4,124,684 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Pacer Advisors Inc. trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 97.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,873 shares of the company’s stock after selling 4,124,684 shares during the period. Pacer Advisors Inc.’s holdings in Airbnb were worth $15,358,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Ascent Group LLC bought a new position in Airbnb in the second quarter worth $211,000. Algert Global LLC bought a new position in shares of Airbnb during the 2nd quarter worth about $374,000. NewEdge Advisors LLC boosted its position in shares of Airbnb by 4.9% during the 2nd quarter. NewEdge Advisors LLC now owns 18,255 shares of the company’s stock valued at $2,768,000 after acquiring an additional 845 shares in the last quarter. EP Wealth Advisors LLC raised its position in Airbnb by 13.1% in the second quarter. EP Wealth Advisors LLC now owns 2,442 shares of the company’s stock worth $370,000 after purchasing an additional 282 shares in the last quarter. Finally, Aristides Capital LLC lifted its stake in Airbnb by 11.2% during the second quarter. Aristides Capital LLC now owns 9,950 shares of the company’s stock worth $1,509,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABNB. Bank of America upped their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. upped their price target on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Robert W. Baird boosted their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wedbush upped their target price on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reissued an “underweight” rating and set a $94.00 price target on shares of Airbnb in a report on Monday, October 7th. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.63.

Airbnb Stock Up 1.6 %

Shares of Airbnb stock opened at $131.05 on Wednesday. The business has a fifty day simple moving average of $133.90 and a 200 day simple moving average of $130.87. The stock has a market cap of $83.08 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. 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 announced 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 company 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 period last year, the company earned $2.39 earnings per share. Research analysts predict that Airbnb, Inc. will post 3.98 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.00, for a total transaction of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares in the company, valued at approximately $5,559,597. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 38,461 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the completion of the transaction, the chief executive officer now owns 12,460,447 shares of the company’s stock, valued at $1,659,606,935.93. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,157,308 shares of company stock worth $153,981,848. Company insiders own 27.83% of the company’s stock.

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.