First Trust Advisors LP Sells 102,848 Shares of Airbnb, Inc. $ABNB

First Trust Advisors LP reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,718,116 shares of the company’s stock after selling 102,848 shares during the period. First Trust Advisors LP owned approximately 0.28% of Airbnb worth $216,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ABNB. Harris Associates L P increased its position in Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after acquiring an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC boosted its position in Airbnb by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after purchasing an additional 47,966 shares during the last quarter. AQR Capital Management LLC boosted its position in Airbnb by 58.4% in the fourth quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after purchasing an additional 2,492,847 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after purchasing an additional 216,455 shares during the period. Finally, Independent Franchise Partners LLP grew its stake in shares of Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock valued at $698,452,000 after purchasing an additional 981,624 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $140.05 on Thursday. The business has a 50-day simple moving average of $139.60 and a two-hundred day simple moving average of $134.55. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88. The stock has a market cap of $84.41 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 1.54 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. On average, analysts expect that Airbnb, Inc. will post 4.92 EPS for the current year.

Insider Activity

In other Airbnb news, Director Kenneth I. Chenault sold 8,346 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the transaction, the director directly owned 40,879 shares in the company, valued at $6,131,850. This represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total transaction of $555,037.50. Following the completion of the transaction, the chief financial officer owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. The trade was a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABNB shares. Raymond James Financial raised shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a research report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 price objective on shares of Airbnb in a report on Thursday, May 21st. Scotiabank began coverage on shares of Airbnb in a research report on Monday, May 4th. They set an “outperform” rating for the company. Needham & Company LLC started coverage on shares of Airbnb in a report on Monday, May 4th. They set a “buy” rating for the company. Finally, Rodman & Renshaw began coverage on shares of Airbnb in a research report on Monday, May 4th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Airbnb currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.