Airbnb, Inc. $ABNB Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 22,457 shares of the company’s stock after selling 483 shares during the period. Securian Asset Management Inc.’s holdings in Airbnb were worth $2,972,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Avidian Wealth Enterprises LLC purchased a new position in shares of Airbnb in the 2nd quarter worth about $227,000. Stephens Inc. AR raised its holdings in shares of Airbnb by 2.4% in the 2nd quarter. Stephens Inc. AR now owns 21,503 shares of the company’s stock worth $2,846,000 after purchasing an additional 500 shares during the period. Sentry Investment Management LLC raised its holdings in shares of Airbnb by 178.6% in the 2nd quarter. Sentry Investment Management LLC now owns 3,886 shares of the company’s stock worth $532,000 after purchasing an additional 2,491 shares during the period. LMG Wealth Partners LLC raised its holdings in shares of Airbnb by 2.5% in the 2nd quarter. LMG Wealth Partners LLC now owns 21,018 shares of the company’s stock worth $2,782,000 after purchasing an additional 511 shares during the period. Finally, Crux Wealth Advisors purchased a new position in shares of Airbnb in the 2nd quarter worth about $676,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $128.56 on Wednesday. The company has a market cap of $79.89 billion, a P/E ratio of 31.13, a PEG ratio of 2.32 and a beta of 1.10. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The business’s 50-day simple moving average is $124.31 and its 200 day simple moving average is $127.54.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the sale, the director directly owned 704,015 shares in the company, valued at $83,932,668.30. The trade was a 25.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $124.26, for a total value of $74,556.00. Following the sale, the chief technology officer owned 197,206 shares in the company, valued at $24,504,817.56. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,431,476 shares of company stock worth $178,130,616 in the last three months. 27.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABNB shares. Truist Financial cut their price objective on Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a report on Wednesday, September 3rd. Mizuho started coverage on Airbnb in a report on Monday, September 29th. They issued an “outperform” rating and a $151.00 price objective on the stock. Wedbush cut their price objective on Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Morgan Stanley dropped their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.81.

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.