Cravens & Co Advisors LLC Has $319,000 Stake in Airbnb, Inc. (NASDAQ:ABNB)

Cravens & Co Advisors LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,517 shares of the company’s stock after selling 257 shares during the quarter. Cravens & Co Advisors LLC’s holdings in Airbnb were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABNB. Edgewood Management LLC boosted its position in Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of 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 buying an additional 4,172,985 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Airbnb by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after buying an additional 52,358 shares during the last quarter. Finally, MKA Charitable Fund raised its position in Airbnb by 17.2% during the third quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after acquiring an additional 296,153 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 641,094 shares of company stock worth $81,077,447. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein cut their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Barclays boosted their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. TD Cowen raised their price target on Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Truist Financial cut their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.97.

Airbnb Stock Down 0.9 %

Shares of NASDAQ ABNB opened at $139.67 on Wednesday. The company has a 50 day simple moving average of $133.55 and a 200 day simple moving average of $135.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm has a market cap of $88.55 billion, a PE ratio of 49.01, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) 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 business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business posted $2.39 EPS. On average, research analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current 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.