Hohimer Wealth Management LLC Sells 459 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Hohimer Wealth Management LLC cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,351 shares of the company’s stock after selling 459 shares during the period. Hohimer Wealth Management LLC’s holdings in Airbnb were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ABNB. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management increased its stake in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Airbnb during the second quarter worth approximately $28,000. Cultivar Capital Inc. purchased a new position in shares of Airbnb in the second quarter worth about $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in Airbnb during the third quarter worth $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

Shares of Airbnb stock opened at $138.30 on Wednesday. The company has a 50 day moving average of $135.39 and a 200-day moving average of $134.90. The company has a market cap of $87.68 billion, a PE ratio of 48.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. As a group, equities research analysts forecast that Airbnb, Inc. will post 3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 748,465 shares of company stock worth $96,015,340. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ABNB shares. Citigroup upped their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Susquehanna raised their target price on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Mizuho lowered their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, September 13th. Finally, Bank of America reiterated a “hold” rating and set a $142.00 price target (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.94.

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.