Airbnb, Inc. $ABNB Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 8.1% during the first quarter, HoldingsChannel reports. The firm owned 79,231 shares of the company’s stock after selling 6,970 shares during the period. PNC Financial Services Group Inc.’s holdings in Airbnb were worth $10,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Oslo Pensjonsforsikring AS purchased a new position in shares of Airbnb in the first quarter worth about $64,000. Andra AP fonden grew its stake in Airbnb by 15.2% during the 1st quarter. Andra AP fonden now owns 101,030 shares of the company’s stock valued at $12,758,000 after acquiring an additional 13,330 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Airbnb during the 1st quarter valued at about $102,000. Johnson Financial Group Inc. raised its holdings in Airbnb by 6.9% in the 1st quarter. Johnson Financial Group Inc. now owns 13,145 shares of the company’s stock valued at $1,660,000 after acquiring an additional 853 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in Airbnb by 1.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock worth $727,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 3,750 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total transaction of $555,037.50. Following the sale, the chief financial officer owned 445,290 shares in the company, valued at $65,907,372.90. This represents a 0.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 2,460 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total value of $369,000.00. Following the completion of the sale, the director directly owned 2,595,119 shares in the company, valued at $389,267,850. This represents a 0.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,231,864 shares of company stock worth $308,474,278 over the last ninety days. Insiders own 27.21% of the company’s stock.

Airbnb Price Performance

ABNB opened at $141.10 on Friday. The stock’s 50-day moving average price is $139.84 and its 200 day moving average price is $134.62. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $150.88. The firm has a market cap of $85.04 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.51 and a beta of 1.14. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Evercore restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Sanford C. Bernstein restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 22nd. Citizens Jmp raised their price objective on Airbnb from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Finally, Truist Financial lifted their price target on shares of Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $159.65.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.