Thrivent Financial for Lutherans Sells 548 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Thrivent Financial for Lutherans lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,181 shares of the company’s stock after selling 548 shares during the period. Thrivent Financial for Lutherans’ holdings in Airbnb were worth $2,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares during the period. Farallon Capital Management LLC purchased a new stake in shares of Airbnb during the first quarter valued at about $265,292,000. International Assets Investment Management LLC lifted its position in shares of Airbnb by 19,430.3% during 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 buying an additional 1,113,747 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Airbnb during the second quarter valued at about $60,240,000. Finally, AQR Capital Management LLC increased its holdings in shares of Airbnb by 486.0% during the second quarter. AQR Capital Management LLC now owns 387,062 shares of the company’s stock valued at $58,539,000 after acquiring an additional 321,015 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABNB shares. Royal Bank of Canada cut their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Truist Financial decreased their target price on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Bank of America restated a “hold” rating and issued a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. Finally, Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $138.97.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $138.28 on Thursday. The stock has a market cap of $87.67 billion, a P/E ratio of 48.52, a P/E/G ratio of 2.00 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $133.86 and a two-hundred day moving average of $135.47. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data 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). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the company earned $2.39 EPS. On average, research analysts forecast that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction dated 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 transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,259,958.40. This represents a 41.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 76,923 shares of the 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 transaction, the chief executive officer now 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 ninety days, insiders have sold 718,017 shares of company stock worth $91,842,052. 27.83% of the stock is owned by corporate insiders.

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.