NCM Capital Management LLC Trims Holdings in Airbnb, Inc. (NASDAQ:ABNB)

NCM Capital Management LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,700 shares of the company’s stock after selling 100 shares during the period. NCM Capital Management LLC’s holdings in Airbnb were worth $216,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ABNB. PGGM Investments purchased a new position in Airbnb during the first quarter valued at approximately $779,000. Pathway Financial Advisers LLC purchased a new position in shares of Airbnb during the 1st quarter valued at $33,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Airbnb by 55.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 166,937 shares of the company’s stock worth $27,636,000 after purchasing an additional 59,383 shares during the period. Bright Futures Wealth Management LLC. bought a new stake in Airbnb during the first quarter valued at $226,000. Finally, Transcend Capital Advisors LLC boosted its stake in Airbnb by 206.8% during the second quarter. Transcend Capital Advisors LLC now owns 9,077 shares of the company’s stock valued at $1,376,000 after buying an additional 6,118 shares during the period. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 76,923 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the sale, the chief executive officer now owns 12,616,300 shares in the company, valued at approximately $1,765,525,022. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the sale, the director now directly owns 10,321 shares in the company, valued at $1,352,876.68. This represents a 95.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 718,017 shares of company stock worth $91,842,052. Company insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Argus cut Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. DA Davidson raised their target price on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Piper Sandler boosted their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America reissued a “hold” rating and issued a $142.00 price target (up previously from $132.00) on shares of Airbnb in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $138.97.

Airbnb Stock Performance

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

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $2.39 EPS. As a group, research analysts predict that Airbnb, Inc. will post 4.02 EPS for the current year.

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.