Blume Capital Management Inc. Sells 130 Shares of Airbnb, Inc. $ABNB

Blume Capital Management Inc. reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,334 shares of the company’s stock after selling 130 shares during the quarter. Blume Capital Management Inc.’s holdings in Airbnb were worth $574,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wallace Advisory Group LLC grew its holdings in Airbnb by 3.1% during the 2nd quarter. Wallace Advisory Group LLC now owns 6,121 shares of the company’s stock worth $810,000 after acquiring an additional 186 shares in the last quarter. Lafayette Investments Inc. lifted its position in shares of Airbnb by 18.9% in the 2nd quarter. Lafayette Investments Inc. now owns 2,312 shares of the company’s stock worth $306,000 after purchasing an additional 367 shares during the period. Avidian Wealth Enterprises LLC bought a new position in shares of Airbnb during the second quarter valued at approximately $227,000. Stephens Inc. AR increased its holdings in Airbnb by 2.4% during the second quarter. Stephens Inc. AR now owns 21,503 shares of the company’s stock valued at $2,846,000 after buying an additional 500 shares during the period. Finally, Sentry Investment Management LLC raised its stake in Airbnb by 178.6% in the second quarter. Sentry Investment Management LLC now owns 3,886 shares of the company’s stock worth $532,000 after buying an additional 2,491 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $128.56 on Wednesday. The business’s 50-day moving average is $124.31 and its 200 day moving average is $127.54. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market capitalization of $79.89 billion, a P/E ratio of 31.13, a P/E/G ratio of 2.32 and a beta of 1.10.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on ABNB shares. JPMorgan Chase & Co. increased their target price on Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. BNP Paribas raised Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Citizens Jmp upgraded shares of Airbnb to a “hold” rating in a report on Monday, August 11th. Finally, Phillip Securities raised shares of Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $141.81.

Insider Buying and Selling at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $122.91, for a total value of $73,746.00. Following the transaction, the chief technology officer directly owned 199,006 shares of the company’s stock, valued at $24,459,827.46. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares of the company’s stock, valued at $6,051,898. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,431,476 shares of company stock worth $178,130,616 in the last three months. 27.83% of the stock is owned by company insiders.

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.