Airbnb, Inc. $ABNB Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 30.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,236 shares of the company’s stock after selling 35,700 shares during the period. Cullinan Associates Inc.’s holdings in Airbnb were worth $10,751,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Airbnb by 1.6% in the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock valued at $4,475,286,000 after buying an additional 604,120 shares during the last quarter. Harris Associates L P lifted its position in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares during the period. Northern Trust Corp grew its stake in shares of Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after purchasing an additional 106,135 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock worth $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $124.96, for a total transaction of $74,976.00. Following the completion of the transaction, the chief technology officer owned 202,006 shares in the company, valued at approximately $25,242,669.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Elinor Mertz sold 4,630 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,431,476 shares of company stock valued at $182,776,618 over the last quarter. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $120.22 on Monday. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock has a market capitalization of $74.71 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10. The firm has a 50 day simple moving average of $125.86 and a 200-day simple moving average of $127.59.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABNB. Phillip Securities upgraded shares of Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. Wedbush reduced their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Morgan Stanley reduced their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Truist Financial lowered their price target on Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a report on Wednesday, September 3rd. Finally, Barclays set a $105.00 price objective on shares of Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $141.81.

Airbnb 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.