Airbnb, Inc. (NASDAQ:ABNB) Position Trimmed by Westside Investment Management Inc.

Westside Investment Management Inc. trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 721 shares of the company’s stock after selling 100 shares during the period. Westside Investment Management Inc.’s holdings in Airbnb were worth $119,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 buying an additional 10,301,746 shares in the last quarter. Edgewood Management LLC boosted its stake in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares during the period. Norges Bank acquired a new position in Airbnb in the 4th quarter worth approximately $619,584,000. Legal & General Group Plc boosted its stake in Airbnb by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock worth $352,466,000 after purchasing an additional 121,651 shares during the period. Finally, Alphinity Investment Management Pty Ltd boosted its stake in Airbnb by 48.3% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after purchasing an additional 813,074 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $161.55, for a total transaction of $96,930.00. Following the completion of the transaction, the chief technology officer now directly owns 222,304 shares of the company’s stock, valued at approximately $35,913,211.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $161.55, for a total value of $96,930.00. Following the completion of the transaction, the chief technology officer now directly owns 222,304 shares of the company’s stock, valued at $35,913,211.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $146.08, for a total transaction of $16,855,440.80. Following the completion of the transaction, the chief executive officer now directly owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The disclosure for this sale can be found here. Insiders sold 424,922 shares of company stock valued at $62,811,386 in the last ninety days. Insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Benchmark assumed coverage on shares of Airbnb in a research note on Thursday, April 11th. They issued a “buy” rating and a $190.00 price objective for the company. TD Cowen decreased their price objective on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup cut their target price on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Airbnb from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $152.38.

Airbnb Price Performance

Shares of Airbnb stock opened at $152.73 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s 50-day simple moving average is $150.00 and its 200-day simple moving average is $151.12. Airbnb, Inc. has a twelve month low of $113.24 and a twelve month high of $170.10. The firm has a market cap of $98.36 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.91 and a beta of 1.18.

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

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.