Greenleaf Trust Sells 455 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Greenleaf Trust cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 13.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,871 shares of the company’s stock after selling 455 shares during the quarter. Greenleaf Trust’s holdings in Airbnb were worth $364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in shares of Airbnb during the first quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb during the 3rd quarter worth approximately $25,000. New Millennium Group LLC bought a new position in shares of Airbnb in the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. purchased a new position in shares of Airbnb in the 2nd quarter valued at approximately $30,000. Finally, Heritage Wealth Advisors boosted its position 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 purchasing an additional 71 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

ABNB opened at $134.58 on Friday. The company’s 50 day moving average is $124.97 and its 200 day moving average is $139.19. 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 market cap of $86.68 billion, a price-to-earnings ratio of 18.02, 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.

Airbnb (NASDAQ:ABNB) last released 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). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Airbnb, Inc. will post 4.33 EPS for the current year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total value of $81,666.00. Following the transaction, the chief technology officer now owns 192,844 shares of the company’s stock, valued at $26,247,996.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total value of $81,666.00. Following the completion of the sale, the chief technology officer now directly owns 192,844 shares of the company’s stock, valued at $26,247,996.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,171 shares of company stock worth $50,208,253. Corporate insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. BMO Capital Markets reduced their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $135.35.

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.