Vestmark Advisory Solutions Inc. Sells 1,997 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Vestmark Advisory Solutions Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,168 shares of the company’s stock after selling 1,997 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Airbnb were worth $1,384,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ABNB. Pinnacle Associates Ltd. boosted its position in Airbnb by 36.0% during the third quarter. Pinnacle Associates Ltd. now owns 2,797 shares of the company’s stock valued at $384,000 after acquiring an additional 741 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Airbnb by 3.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 95,106 shares of the company’s stock valued at $13,049,000 after acquiring an additional 3,250 shares during the last quarter. Mackenzie Financial Corp boosted its position in Airbnb by 79.2% during the third quarter. Mackenzie Financial Corp now owns 41,162 shares of the company’s stock valued at $5,258,000 after acquiring an additional 18,196 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Airbnb during the 3rd quarter worth about $39,000. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Airbnb by 50.1% during the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,461 shares of the company’s stock worth $338,000 after purchasing an additional 821 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABNB. Piper Sandler increased their price objective on shares of Airbnb from $136.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the stock from $150.00 to $200.00 in a report on Wednesday, April 24th. UBS Group cut their target price on Airbnb from $148.00 to $143.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Bank of America boosted their price objective on Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $145.00 target price on shares of Airbnb in a research report on Friday, March 15th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.19.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total value of $97,800.00. Following the sale, the chief technology officer now owns 144,931 shares in the company, valued at $23,623,753. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total value of $97,800.00. Following the transaction, the chief technology officer now owns 144,931 shares in the company, valued at $23,623,753. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the transaction, the chief technology officer now owns 146,131 shares in the company, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 396,874 shares of company stock worth $63,712,671. 27.83% of the stock is currently owned by company insiders.

Airbnb Trading Up 1.0 %

Shares of NASDAQ ABNB traded up $1.63 during trading hours on Monday, hitting $161.34. The company’s stock had a trading volume of 294,702 shares, compared to its average volume of 4,413,420. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $104.40 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.12 and a beta of 1.24. Airbnb, Inc. has a 12 month low of $103.55 and a 12 month high of $170.10. The business has a 50-day simple moving average of $161.18 and a 200-day simple moving average of $144.81.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. On average, analysts anticipate that Airbnb, Inc. will post 4.47 earnings per share 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.