Mutual of America Capital Management LLC Reduces Stake in Airbnb, Inc. (NASDAQ:ABNB)

Mutual of America Capital Management LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,212 shares of the company’s stock after selling 1,504 shares during the period. Mutual of America Capital Management LLC’s holdings in Airbnb were worth $6,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABNB. First Long Island Investors LLC lifted its holdings in Airbnb by 1.2% in the third quarter. First Long Island Investors LLC now owns 87,283 shares of the company’s stock worth $11,068,000 after buying an additional 1,069 shares during the period. Empirical Finance LLC lifted its stake in shares of Airbnb by 58.6% in the 3rd quarter. Empirical Finance LLC now owns 2,616 shares of the company’s stock valued at $332,000 after purchasing an additional 967 shares during the period. Empowered Funds LLC boosted its position in shares of Airbnb by 1,043.4% during the third quarter. Empowered Funds LLC now owns 62,499 shares of the company’s stock valued at $7,925,000 after purchasing an additional 57,033 shares in the last quarter. King Wealth Management Group purchased a new stake in Airbnb in the third quarter worth $253,000. Finally, CIBC Asset Management Inc raised its holdings in Airbnb by 5.5% in the third quarter. CIBC Asset Management Inc now owns 136,382 shares of the company’s stock worth $17,295,000 after purchasing an additional 7,148 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. This represents a 72.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 417,206 shares of company stock valued at $51,738,467 over the last quarter. 27.83% of the stock is currently owned by company insiders.

Airbnb Stock Down 0.2 %

Shares of ABNB stock opened at $132.19 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market cap of $83.80 billion, a P/E ratio of 46.38, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a 50 day simple moving average of $131.30 and a two-hundred day simple moving average of $136.26.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the company earned $2.39 earnings per share. On average, research analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Mizuho reduced their target price on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Raymond James initiated coverage on shares of Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.97.

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.