Edgewood Management LLC Trims Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Edgewood Management LLC trimmed its position in Airbnb, Inc. (NASDAQ:ABNB) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,526,097 shares of the company’s stock after selling 1,056,336 shares during the quarter. Airbnb makes up approximately 4.7% of Edgewood Management LLC’s holdings, making the stock its 10th largest position. Edgewood Management LLC owned 1.98% of Airbnb worth $1,646,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ABNB. Golden State Wealth Management LLC bought a new position in shares of Airbnb in the 4th quarter worth about $25,000. Berbice Capital Management LLC bought a new position in Airbnb in the fourth quarter worth about $26,000. Graney & King LLC acquired a new position in Airbnb in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new position in shares of Airbnb during the fourth quarter valued at approximately $44,000. Finally, Cromwell Holdings LLC raised its position in shares of Airbnb by 82.5% during the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after purchasing an additional 170 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the sale, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the sale, the insider now owns 164,850 shares of the company’s stock, valued at approximately $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,290,053 shares of company stock valued at $319,656,539 in the last three months. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $106.66 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 1-year low of $104.73 and a 1-year high of $166.74. The stock’s fifty day simple moving average is $133.75 and its 200-day simple moving average is $133.66. The company has a market capitalization of $67.25 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 3.52 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABNB. Barclays upped their price objective on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a research note on Friday, February 14th. Gordon Haskett raised shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective on the stock in a report on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Airbnb in a research note on Friday, February 14th. B. Riley upped their target price on shares of Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, HSBC raised Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $147.28.

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.