Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,401,405 shares of the company’s stock after selling 1,022,060 shares during the period. Airbnb accounts for 0.9% of Renaissance Technologies LLC’s holdings, making the stock its 8th largest position. Renaissance Technologies LLC owned 0.53% of Airbnb worth $515,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Airbnb in the first quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in Airbnb in the fourth quarter valued at approximately $27,000. New Millennium Group LLC bought a new position in Airbnb in the second quarter valued at approximately $28,000. Vima LLC bought a new position in Airbnb in the fourth quarter valued at approximately $29,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the second quarter valued at approximately $30,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $117.75 on Monday. The firm’s 50-day moving average price is $128.14 and its 200-day moving average price is $145.73. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market capitalization of $75.84 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the company posted $0.98 EPS. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. B. Riley decreased their price objective on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Bank of America decreased their target price on shares of Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Susquehanna decreased their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their target price on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.45.

Insider Activity

In other news, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the transaction, the chief accounting officer now owns 44,043 shares in the company, valued at $6,424,992.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $149.90, for a total transaction of $89,940.00. Following the completion of the sale, the chief technology officer now directly owns 209,974 shares of the company’s stock, valued at $31,475,102.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the sale, the chief accounting officer now directly owns 44,043 shares of the company’s stock, valued at $6,424,992.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 449,932 shares of company stock worth $67,352,949. Company insiders own 27.83% of the company’s stock.

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.