Chevy Chase Trust Holdings LLC Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Chevy Chase Trust Holdings LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.7% during the first quarter, Holdings Channel reports. The fund owned 241,154 shares of the company’s stock after selling 1,699 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Airbnb were worth $39,781,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Airbnb by 43.0% during the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after acquiring an additional 10,301,746 shares during the last quarter. Edgewood Management LLC boosted its position in Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the last quarter. Jennison Associates LLC boosted its position in Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares during the last quarter. Norges Bank acquired a new stake in Airbnb during the fourth quarter worth approximately $619,584,000. Finally, Alphinity Investment Management Pty Ltd boosted its position in Airbnb by 48.3% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after acquiring an additional 813,074 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $151.29, for a total value of $90,774.00. Following the completion of the sale, the chief technology officer now owns 208,774 shares of the company’s stock, valued at approximately $31,585,418.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Gebbia sold 1,500 shares of Airbnb stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the transaction, the director now directly owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $151.29, for a total transaction of $90,774.00. Following the completion of the transaction, the chief technology officer now directly owns 208,774 shares of the company’s stock, valued at $31,585,418.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,322 shares of company stock valued at $62,714,456. Insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.0 %

Shares of ABNB traded down $1.49 during midday trading on Wednesday, hitting $150.96. The company had a trading volume of 1,534,855 shares, compared to its average volume of 4,355,762. The company’s 50 day moving average price is $149.23 and its 200 day moving average price is $151.42. The stock has a market cap of $97.22 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.88 and a beta of 1.18. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.18. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities research analysts predict that Airbnb, Inc. will post 4.65 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABNB. HSBC lowered shares of Airbnb from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $156.00 in a research report on Thursday, May 9th. Benchmark started coverage on shares of Airbnb in a report on Thursday, April 11th. They issued a “buy” rating and a $190.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Tigress Financial lifted their price target on shares of Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and lifted their price target for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $152.44.

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 connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.