Vestcor Inc Sells 5,263 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Vestcor Inc cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,421 shares of the company’s stock after selling 5,263 shares during the period. Vestcor Inc’s holdings in Airbnb were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Square Financial Group LLC bought a new position in Airbnb in the 4th quarter worth $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb during the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC increased its position in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after buying an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC raised its stake in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in Airbnb in the first quarter worth about $43,000. Institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the transaction, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the sale, the chief technology officer owned 209,777 shares in the company, valued at $29,240,816.03. This represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,655,558 shares of company stock valued at $219,678,073. 27.91% of the stock is currently owned by insiders.

Airbnb Price Performance

ABNB opened at $128.02 on Friday. The company has a 50 day simple moving average of $135.13 and a two-hundred day simple moving average of $131.22. The firm has a market cap of $80.19 billion, a P/E ratio of 32.33, a PEG ratio of 2.46 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. Equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a report on Wednesday, May 28th. Royal Bank Of Canada reduced their price target on Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated an “underweight” rating and issued a $100.00 price objective on shares of Airbnb in a report on Wednesday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Phillip Securities downgraded shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $142.10.

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.