Lazari Capital Management Inc. Reduces Stake in Airbnb, Inc. (NASDAQ:ABNB)

Lazari Capital Management Inc. reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,367 shares of the company’s stock after selling 150 shares during the quarter. Lazari Capital Management Inc.’s holdings in Airbnb were worth $300,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after purchasing an additional 791,149 shares during the period. Jennison Associates LLC increased its position in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Legal & General Group Plc lifted its holdings in Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after buying an additional 153,784 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in Airbnb by 1.6% in the first quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock worth $418,341,000 after buying an additional 39,129 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ABNB shares. Bank of America reiterated a “hold” rating and set a $142.00 target price (up previously from $132.00) on shares of Airbnb in a report on Friday, October 11th. BMO Capital Markets decreased their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group upped their target price on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada lowered their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird cut their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Airbnb has an average rating of “Hold” and an average target price of $135.03.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 405,571 shares of company stock worth $50,126,587 in the last 90 days. 27.83% of the stock is owned by corporate insiders.

Airbnb Stock Down 1.2 %

Shares of NASDAQ:ABNB opened at $135.59 on Wednesday. The company has a market cap of $87.33 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $123.64 and a 200 day moving average price of $139.65.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities research analysts predict that Airbnb, Inc. will post 4.33 earnings per share for the current year.

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.