Hartford Investment Management Co. Sells 628 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Hartford Investment Management Co. cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,653 shares of the company’s stock after selling 628 shares during the quarter. Hartford Investment Management Co.’s holdings in Airbnb were worth $3,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ABNB. Transcendent Capital Group LLC bought a new stake in shares of Airbnb during the first quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Airbnb during the 3rd quarter valued at $25,000. New Millennium Group LLC acquired a new position in Airbnb during the second quarter worth $28,000. Cultivar Capital Inc. bought a new position in shares of Airbnb in the second quarter valued at $30,000. Finally, Heritage Wealth Advisors grew its holdings in shares of Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of analyst reports. Sanford C. Bernstein lowered their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. The Goldman Sachs Group cut their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets dropped their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Wedbush reduced their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $135.35.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 38,460 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $133.97, for a total transaction of $5,152,486.20. Following the completion of the transaction, the chief executive officer now owns 13,200,529 shares of the company’s stock, valued at approximately $1,768,474,870.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 38,460 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $133.97, for a total transaction of $5,152,486.20. Following the completion of the transaction, the chief executive officer now owns 13,200,529 shares in the company, valued at approximately $1,768,474,870.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 405,571 shares of company stock valued at $50,126,587 in the last quarter. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Down 2.7 %

Airbnb stock opened at $131.92 on Thursday. The firm has a 50 day simple moving average of $124.01 and a 200 day simple moving average of $139.47. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market capitalization of $84.96 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.83 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last announced its quarterly 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 company 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%. Airbnb’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, analysts predict that Airbnb, Inc. will post 4.33 earnings per share for the current year.

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.