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

Chevy Chase Trust Holdings LLC lessened its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 227,158 shares of the company’s stock after selling 8,753 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Airbnb were worth $29,851,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ABNB. CX Institutional grew its stake in Airbnb by 17.1% during the 3rd quarter. CX Institutional now owns 1,679 shares of the company’s stock valued at $213,000 after purchasing an additional 245 shares during the last quarter. Creative Planning grew its stake in Airbnb by 44.0% during the 3rd quarter. Creative Planning now owns 70,442 shares of the company’s stock valued at $8,808,000 after purchasing an additional 21,518 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in Airbnb by 40.2% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 2,932 shares of the company’s stock valued at $372,000 after purchasing an additional 840 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Airbnb by 277.7% in the third quarter. Stratos Wealth Advisors LLC now owns 18,194 shares of the company’s stock worth $2,307,000 after buying an additional 13,377 shares during the last quarter. Finally, TriaGen Wealth Management LLC boosted its stake in shares of Airbnb by 17.5% in the third quarter. TriaGen Wealth Management LLC now owns 16,712 shares of the company’s stock worth $2,119,000 after buying an additional 2,492 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 76,923 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now directly owns 12,616,300 shares in the company, valued at approximately $1,765,525,022. This represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the completion of the transaction, the chief accounting officer now owns 40,581 shares of the company’s stock, valued at $5,559,597. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,608,005 shares of company stock worth $214,394,023. Company insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ABNB shares. Truist Financial lowered their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a research note on Tuesday, February 4th. Benchmark upped their target price on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research note on Friday. HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and upped their target price for the stock from $110.00 to $153.00 in a research note on Friday. Five analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $145.79.

Airbnb Price Performance

ABNB stock opened at $161.42 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The business has a 50 day simple moving average of $133.49 and a 200-day simple moving average of $130.17. The firm has a market capitalization of $102.34 billion, a PE ratio of 56.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. Equities research analysts anticipate that Airbnb, Inc. will post 3.97 earnings per share for the current fiscal year.

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.