Allspring Global Investments Holdings LLC Lowers Stake in Airbnb, Inc. (NASDAQ:ABNB)

Allspring Global Investments Holdings LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 30.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,784 shares of the company’s stock after selling 9,316 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Airbnb were worth $2,864,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Airbnb in the 4th quarter valued at about $25,000. Hollencrest Capital Management lifted its stake in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Airbnb in the 4th quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in Airbnb in the 3rd quarter valued at about $30,000. Finally, Quarry LP purchased a new position in Airbnb in the 3rd quarter valued at about $55,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the sale, the director now owns 1,071,430 shares of the company’s stock, valued at approximately $138,160,898.50. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now directly owns 185,414 shares in the company, valued at $25,218,158.14. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,950,540 shares of company stock worth $275,598,944 in the last ninety days. 27.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of research reports. Phillip Securities reaffirmed a “reduce” rating and issued a $120.00 price target on shares of Airbnb in a research note on Tuesday, November 12th. Piper Sandler increased their price objective on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of Airbnb in a report on Tuesday, February 4th. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective for the company in a report on Friday, February 14th. Finally, Citigroup increased their price objective on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $147.00.

Airbnb Stock Performance

Shares of ABNB stock opened at $146.07 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The stock has a market capitalization of $92.60 billion, a PE ratio of 35.37, a P/E/G ratio of 3.81 and a beta of 1.12. The firm has a 50 day moving average of $135.45 and a two-hundred day moving average of $130.96.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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.