Chevy Chase Trust Holdings LLC Reduces Holdings in Airbnb, Inc. $ABNB

Chevy Chase Trust Holdings LLC lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 4.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 218,980 shares of the company’s stock after selling 9,396 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Airbnb were worth $26,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LLP purchased a new stake in shares of Airbnb during the first quarter worth about $258,000. Intech Investment Management LLC boosted its holdings in Airbnb by 55.8% in the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock valued at $1,453,000 after purchasing an additional 4,353 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Airbnb by 18.8% in the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock valued at $776,000 after purchasing an additional 927 shares during the last quarter. Allworth Financial LP grew its stake in Airbnb by 37.5% during the 2nd quarter. Allworth Financial LP now owns 3,727 shares of the company’s stock valued at $493,000 after purchasing an additional 1,016 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Airbnb by 52.7% during the 2nd quarter. Cetera Investment Advisers now owns 112,460 shares of the company’s stock valued at $14,883,000 after purchasing an additional 38,822 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

NASDAQ ABNB opened at $128.32 on Tuesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $143.88. The company has a 50-day simple moving average of $129.92 and a 200-day simple moving average of $126.65. The firm has a market capitalization of $78.11 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the company earned $0.73 EPS. Airbnb’s revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ABNB shares. BMO Capital Markets upped their target price on Airbnb from $130.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, February 13th. Truist Financial raised their price target on shares of Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a research report on Thursday, December 4th. Sanford C. Bernstein dropped their price target on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. TD Cowen upped their price target on shares of Airbnb from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Mizuho increased their price objective on shares of Airbnb from $156.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $147.40.

Insider Buying and Selling

In other news, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $130.00, for a total transaction of $487,500.00. Following the sale, the chief financial officer directly owned 402,417 shares in the company, valued at approximately $52,314,210. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 4,260 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $125.29, for a total value of $533,735.40. Following the completion of the sale, the insider directly owned 49,250 shares in the company, valued at approximately $6,170,532.50. This trade represents a 7.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 381,338 shares of company stock valued at $49,828,312 over the last three months. 27.83% of the stock is owned by company insiders.

Airbnb Company Profile

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.