Adage Capital Partners GP L.L.C. Decreases Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Adage Capital Partners GP L.L.C. cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,400 shares of the company’s stock after selling 88,700 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Airbnb were worth $47,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CAP Partners LLC boosted its position in Airbnb by 3.6% during the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock worth $293,000 after purchasing an additional 77 shares during the period. Lindbrook Capital LLC boosted its holdings in Airbnb by 1.4% in the 4th quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after buying an additional 78 shares during the period. Manchester Capital Management LLC grew its stake in Airbnb by 18.2% in the 4th quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after buying an additional 81 shares in the last quarter. Salvus Wealth Management LLC raised its holdings in Airbnb by 2.5% during the 4th quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after acquiring an additional 84 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock worth $176,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 2.9 %

Shares of NASDAQ:ABNB opened at $121.71 on Friday. The stock’s 50-day moving average is $126.43 and its 200 day moving average is $132.00. The company has a market cap of $76.74 billion, a PE ratio of 29.47, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $165.50.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ABNB. HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald decreased their price target on Airbnb from $130.00 to $101.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Susquehanna raised their price objective on shares of Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Morgan Stanley upped their target price on shares of Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, April 17th. Finally, Tigress Financial increased their target price on shares of Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $146.94.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $129.87, for a total value of $4,994,930.07. Following the completion of the transaction, the chief executive officer now directly owns 12,421,986 shares of the company’s stock, valued at $1,613,243,321.82. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the sale, the director now owns 2,294,870 shares of the company’s stock, valued at $249,590,061.20. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,213,131 shares of company stock worth $300,179,370. 27.83% of the stock is currently owned by corporate insiders.

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.