New York Life Investment Management LLC Sells 761 Shares of Airbnb, Inc. (NASDAQ:ABNB)

New York Life Investment Management LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 1.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 64,485 shares of the company’s stock after selling 761 shares during the period. New York Life Investment Management LLC’s holdings in Airbnb were worth $8,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Airbnb by 20.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 28,770 shares of the company’s stock worth $3,648,000 after acquiring an additional 4,864 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after purchasing an additional 2,132 shares in the last quarter. abrdn plc lifted its position in Airbnb by 15.4% during the third quarter. abrdn plc now owns 175,182 shares of the company’s stock valued at $22,245,000 after purchasing an additional 23,428 shares during the last quarter. Integrated Advisors Network LLC grew its stake in shares of Airbnb by 53.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,171 shares of the company’s stock worth $275,000 after buying an additional 756 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Airbnb by 37.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 705 shares of the company’s stock worth $89,000 after buying an additional 193 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the sale, the insider now owns 164,850 shares of the company’s stock, valued at $26,046,300. This represents a 52.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,091,314 shares of company stock valued at $295,773,256 over the last quarter. 27.83% of the stock is owned by corporate insiders.

Airbnb Price Performance

NASDAQ ABNB opened at $139.45 on Friday. The company has a market cap of $87.93 billion, a PE ratio of 33.77, a P/E/G ratio of 3.52 and a beta of 1.12. The firm’s 50 day moving average price is $136.43 and its 200-day moving average price is $131.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $155.00 price target on shares of Airbnb in a research report on Tuesday, February 4th. Citigroup lifted their target price on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group increased their price target on Airbnb from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Canaccord Genuity Group raised their price target on Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of Airbnb from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $110.00 to $153.00 in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $146.48.

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.