Cornerstone Capital Inc. Sells 580 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Cornerstone Capital Inc. cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 27.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,565 shares of the company’s stock after selling 580 shares during the quarter. Cornerstone Capital Inc.’s holdings in Airbnb were worth $206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABNB. Dimensional Fund Advisors LP boosted its stake in shares of Airbnb by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 812,476 shares of the company’s stock worth $106,769,000 after acquiring an additional 17,620 shares during the period. Capital International Ltd. CA boosted its holdings in shares of Airbnb by 2.0% in the 4th quarter. Capital International Ltd. CA now owns 81,847 shares of the company’s stock valued at $10,756,000 after purchasing an additional 1,573 shares in the last quarter. Capital Group Investment Management PTE. LTD. grew its position in Airbnb by 2.1% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 17,533 shares of the company’s stock valued at $2,304,000 after acquiring an additional 369 shares during the last quarter. Capital International Sarl increased its holdings in shares of Airbnb by 7.0% during the fourth quarter. Capital International Sarl now owns 117,260 shares of the company’s stock worth $15,409,000 after buying an additional 7,646 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its holdings in Airbnb by 12.9% in the 4th quarter. Altshuler Shaham Ltd now owns 16,151 shares of the company’s stock valued at $2,122,000 after buying an additional 1,844 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the completion of the sale, the director now owns 2,294,870 shares of the company’s stock, valued at $249,590,061.20. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $135.47, for a total value of $94,829.00. Following the sale, the chief technology officer now directly owns 183,314 shares of the company’s stock, valued at $24,833,547.58. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,037,307 shares of company stock valued at $280,842,374. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABNB shares. Wedbush reissued an “outperform” rating and issued a $155.00 price objective on shares of Airbnb in a research report on Tuesday, February 4th. Evercore ISI upped their price target on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their price target on shares of Airbnb from $134.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, April 7th. Morgan Stanley boosted their price objective on Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, HSBC raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $146.94.

Airbnb Stock Up 0.1 %

ABNB opened at $112.70 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $71.06 billion, a P/E ratio of 27.29, a PEG ratio of 3.52 and a beta of 1.15. The company’s 50-day moving average is $129.19 and its 200 day moving average is $132.31. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $166.74.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 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%. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.