DAVENPORT & Co LLC trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 14.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,776 shares of the company’s stock after selling 301 shares during the quarter. DAVENPORT & Co LLC’s holdings in Airbnb were worth $228,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC increased its position in shares of Airbnb by 5.0% during the 1st quarter. Jennison Associates LLC now owns 8,971,146 shares of the company’s stock worth $1,116,011,000 after purchasing an additional 429,772 shares during the last quarter. Geode Capital Management LLC grew its position in Airbnb by 3.1% in the 1st quarter. Geode Capital Management LLC now owns 4,464,099 shares of the company’s stock valued at $555,202,000 after acquiring an additional 132,429 shares in the last quarter. Norges Bank acquired a new position in Airbnb in the 4th quarter valued at about $332,438,000. FIL Ltd grew its position in Airbnb by 4.7% in the 1st quarter. FIL Ltd now owns 2,117,939 shares of the company’s stock valued at $263,472,000 after acquiring an additional 95,888 shares in the last quarter. Finally, Northern Trust Corp grew its position in Airbnb by 12.4% in the 1st quarter. Northern Trust Corp now owns 2,001,674 shares of the company’s stock valued at $343,808,000 after acquiring an additional 220,036 shares in the last quarter. 44.19% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Joseph Gebbia sold 516,666 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $150.42, for a total value of $77,716,899.72. Following the transaction, the director now owns 1,666,769 shares of the company’s stock, valued at $250,715,392.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Joseph Gebbia sold 516,666 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.42, for a total transaction of $77,716,899.72. Following the transaction, the director now owns 1,666,769 shares of the company’s stock, valued at $250,715,392.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $130.85, for a total value of $5,234,000.00. Following the transaction, the insider now directly owns 1,164,797 shares in the company, valued at approximately $152,413,687.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,673,745 shares of company stock valued at $237,435,336. Company insiders own 30.84% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on Airbnb
Airbnb Price Performance
Shares of NASDAQ ABNB opened at $126.36 on Monday. The stock has a market cap of $81.79 billion, a P/E ratio of 36.84, a P/E/G ratio of 1.65 and a beta of 1.22. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $135.63 and a two-hundred day moving average of $127.04. Airbnb, Inc. has a twelve month low of $81.91 and a twelve month high of $154.95.
Airbnb (NASDAQ:ABNB – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.21. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.42 billion. Airbnb had a return on equity of 42.90% and a net margin of 25.31%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, research analysts forecast that Airbnb, Inc. will post 3.75 earnings per share for the current year.
Airbnb 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 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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