Scotia Capital Inc. Trims Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Scotia Capital Inc. trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,919 shares of the company’s stock after selling 3,087 shares during the period. Scotia Capital Inc.’s holdings in Airbnb were worth $12,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABNB. Golden State Wealth Management LLC purchased a new position in shares of Airbnb during the fourth quarter worth about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Airbnb in the 4th quarter valued at about $26,000. Graney & King LLC purchased a new position in Airbnb during the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC acquired a new position in Airbnb during the fourth quarter worth approximately $44,000. Finally, Cromwell Holdings LLC lifted its stake in Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock valued at $49,000 after buying an additional 170 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $129.82, for a total value of $90,874.00. Following the completion of the transaction, the chief technology officer now owns 184,014 shares of the company’s stock, valued at $23,888,697.48. The trade was a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the sale, the chief executive officer now owns 12,460,447 shares in the company, valued at approximately $1,659,606,935.93. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,245,342 shares of company stock worth $307,735,023 over the last three months. 27.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their target price on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. The Goldman Sachs Group upgraded shares of Airbnb from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Truist Financial reduced their target price on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a report on Friday, March 21st. Tigress Financial raised their price target on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and upped their price objective for the company from $165.00 to $185.00 in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $146.56.

Airbnb Stock Performance

Shares of ABNB opened at $113.91 on Friday. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $166.74. The stock has a market cap of $71.82 billion, a P/E ratio of 27.58, a PEG ratio of 3.52 and a beta of 1.15. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $131.53 and a two-hundred day moving average of $132.95.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal 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.