Janney Montgomery Scott LLC Sells 940 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Posted by on Apr 22nd, 2023

Janney Montgomery Scott LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB – Get Rating) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,880 shares of the company’s stock after selling 940 shares during the period. Janney Montgomery Scott LLC’s holdings in Airbnb were worth $4,949,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Associates Ltd. grew its position in Airbnb by 7.1% in the fourth quarter. Pinnacle Associates Ltd. now owns 2,471 shares of the company’s stock worth $211,000 after acquiring an additional 163 shares in the last quarter. Legal Advantage Investments Inc. boosted its holdings in shares of Airbnb by 30.3% in the 4th quarter. Legal Advantage Investments Inc. now owns 4,300 shares of the company’s stock worth $368,000 after purchasing an additional 1,000 shares during the period. Twin Capital Management Inc. bought a new position in shares of Airbnb during the 4th quarter valued at approximately $2,259,000. apricus wealth LLC purchased a new stake in Airbnb during the 4th quarter valued at $2,211,000. Finally, New World Advisors LLC lifted its position in Airbnb by 50.0% in the fourth quarter. New World Advisors LLC now owns 4,319 shares of the company’s stock worth $369,000 after buying an additional 1,439 shares during the last quarter. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In other news, Director Jeffrey D. Jordan sold 12,000 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $120.00, for a total transaction of $1,440,000.00. Following the transaction, the director now directly owns 267,646 shares of the company’s stock, valued at $32,117,520. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Joseph Gebbia sold 333,332 shares of Airbnb stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $134.12, for a total transaction of $44,706,487.84. Following the completion of the sale, the director now directly owns 9,666,769 shares in the company, valued at $1,296,507,058.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Jordan sold 12,000 shares of Airbnb stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $120.00, for a total transaction of $1,440,000.00. Following the sale, the director now owns 267,646 shares of the company’s stock, valued at $32,117,520. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,758,285 shares of company stock valued at $338,794,053. Corporate insiders own 32.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABNB. Gordon Haskett downgraded Airbnb from a “hold” rating to an “underperform” rating in a research report on Wednesday, January 25th. Cowen increased their price objective on shares of Airbnb from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Citigroup increased their price objective on shares of Airbnb from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. DA Davidson increased their price objective on shares of Airbnb from $132.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Finally, Loop Capital increased their price objective on shares of Airbnb from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $141.58.

Airbnb Stock Performance

ABNB stock opened at $115.50 on Friday. The firm has a market cap of $73.98 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 1.92 and a beta of 1.14. The firm has a 50-day simple moving average of $120.60 and a two-hundred day simple moving average of $108.11. Airbnb, Inc. has a one year low of $81.91 and a one year high of $163.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.86 and a current ratio of 1.86.

Airbnb (NASDAQ:ABNB – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.21. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.86 billion. Airbnb had a return on equity of 35.92% and a net margin of 22.54%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts forecast that Airbnb, Inc. will post 3.34 EPS for the current fiscal year.

Airbnb Profile

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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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