Vinva Investment Management Ltd Sells 5,462 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Vinva Investment Management Ltd lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 30.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,302 shares of the company’s stock after selling 5,462 shares during the quarter. Vinva Investment Management Ltd’s holdings in Airbnb were worth $1,578,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ABNB. Pacer Advisors Inc. increased its position in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares during the period. Assenagon Asset Management S.A. raised its position in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after purchasing an additional 1,684,646 shares during the last quarter. Edgewood Management LLC lifted its holdings in Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after buying an additional 1,143,464 shares during the period. International Assets Investment Management LLC grew its position in shares of Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after buying an additional 1,113,747 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Airbnb in the second quarter valued at about $60,240,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Airbnb

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 transaction of $10,764,604.62. Following the completion of the sale, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at approximately $1,765,525,022. This trade represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 718,017 shares of company stock valued at $91,842,052 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.6 %

ABNB stock opened at $136.11 on Friday. The stock’s 50 day moving average is $134.15 and its 200-day moving average is $135.40. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The firm has a market capitalization of $86.29 billion, a PE ratio of 47.76, a P/E/G ratio of 1.96 and a beta of 1.15. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $2.39 earnings per share. Sell-side analysts expect that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABNB. Mizuho reduced their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Phillip Securities reaffirmed a “reduce” rating and issued a $120.00 price objective on shares of Airbnb in a research note on Tuesday, November 12th. Wells Fargo & Company lifted their target price on shares of Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Wedbush upped their price target on shares of Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America reissued a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.