Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,260 shares of the company’s stock after selling 3,897 shares during the period. Lake Street Advisors Group LLC’s holdings in Airbnb were worth $2,466,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Airbnb by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after buying an additional 791,149 shares during the period. Edgewood Management LLC lifted its stake in Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Jennison Associates LLC raised its position in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares during the period. Finally, Norges Bank purchased a new position in Airbnb during the 4th quarter valued at about $619,584,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB stock opened at $114.28 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $131.77 and its 200 day simple moving average is $147.03. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market cap of $73.60 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.55 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts expect that Airbnb, Inc. will post 4.43 earnings per share for the current year.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on Airbnb in a research note on Thursday. They set an “underweight” rating and a $94.00 price target for the company. BMO Capital Markets reduced their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Barclays cut their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Finally, Robert W. Baird decreased their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $134.48.

Insider Activity

In related news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $147.25, for a total transaction of $16,990,441.25. Following the transaction, the chief executive officer now directly owns 14,145,072 shares of the company’s stock, valued at $2,082,861,852. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $147.97, for a total value of $88,782.00. Following the transaction, the chief technology officer now directly owns 210,574 shares in the company, valued at approximately $31,158,634.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction on Monday, June 10th. The shares were sold at an average price of $147.25, for a total transaction of $16,990,441.25. Following the completion of the sale, the chief executive officer now directly owns 14,145,072 shares of the company’s stock, valued at approximately $2,082,861,852. The disclosure for this sale can be found here. Insiders sold 612,907 shares of company stock worth $91,473,471 in the last quarter. 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.