Brown Advisory Inc. Sells 294,479 Shares of Airbnb, Inc. $ABNB

Brown Advisory Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 6.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,077,944 shares of the company’s stock after selling 294,479 shares during the period. Brown Advisory Inc.’s holdings in Airbnb were worth $539,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Harbour Investments Inc. grew its stake in Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after buying an additional 80 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Airbnb by 35.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 490 shares of the company’s stock worth $59,000 after acquiring an additional 127 shares during the period. Vanguard Group Inc. grew its position in shares of Airbnb by 1.6% in the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock valued at $4,475,286,000 after purchasing an additional 604,120 shares in the last quarter. Exencial Wealth Advisors LLC raised its stake in shares of Airbnb by 1.6% during the 1st quarter. Exencial Wealth Advisors LLC now owns 44,228 shares of the company’s stock valued at $5,283,000 after purchasing an additional 677 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Airbnb during the 1st quarter valued at $4,850,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABNB. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $165.00 target price on shares of Airbnb in a report on Friday, November 7th. BNP Paribas Exane assumed coverage on shares of Airbnb in a research note on Monday, November 24th. They set a “neutral” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Morgan Stanley cut their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $143.69.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 549 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $116.04, for a total transaction of $63,705.96. Following the transaction, the chief technology officer directly owned 187,686 shares in the company, valued at approximately $21,779,083.44. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 3,307 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $116.71, for a total value of $385,959.97. Following the transaction, the insider directly owned 175,793 shares in the company, valued at approximately $20,516,801.03. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,498,340 shares of company stock worth $181,532,210. Company insiders own 27.91% of the company’s stock.

Airbnb Price Performance

Shares of Airbnb stock opened at $120.82 on Friday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market cap of $74.37 billion, a PE ratio of 28.70, a PEG ratio of 2.11 and a beta of 1.11. The company has a 50 day simple moving average of $121.52 and a two-hundred day simple moving average of $127.57.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $2.13 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts anticipate that Airbnb, Inc. will post 4.31 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.