Mizuho Markets Americas LLC Reduces Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Mizuho Markets Americas LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 58.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,915 shares of the company’s stock after selling 47,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Airbnb were worth $4,174,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Farallon Capital Management LLC purchased a new position in shares of Airbnb during the first quarter valued at approximately $265,292,000. International Assets Investment Management LLC raised its holdings in shares of Airbnb by 19,430.3% during the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after acquiring an additional 1,113,747 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Airbnb in the first quarter worth $175,496,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total transaction of $81,666.00. Following the sale, the chief technology officer now owns 192,844 shares of the company’s stock, valued at approximately $26,247,996.84. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,259,958.40. The trade was a 41.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,806 shares of company stock worth $51,809,831. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of Airbnb stock opened at $132.50 on Friday. The stock has a market cap of $85.01 billion, a P/E ratio of 46.49, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The stock’s fifty day moving average is $130.99 and its 200 day moving average is $136.58. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

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 the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period last year, the business earned $2.39 EPS. Sell-side analysts anticipate that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James started coverage on shares of Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective for the company. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. Bank of America reaffirmed a “hold” rating and set a $142.00 price objective (up from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Wells Fargo & Company increased their target price on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Finally, Phillip Securities reaffirmed a “reduce” rating and issued a $120.00 price target on shares of Airbnb in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $139.31.

About Airbnb

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.