Airbnb, Inc. (NASDAQ:ABNB) Holdings Decreased by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,815,580 shares of the company’s stock after selling 2,348,828 shares during the quarter. Airbnb makes up 0.9% of Jennison Associates LLC’s investment portfolio, making the stock its 29th largest position. Jennison Associates LLC’s holdings in Airbnb were worth $1,371,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ABNB. Transcendent Capital Group LLC purchased a new position in Airbnb in the first quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the third quarter worth $25,000. Hollencrest Capital Management increased its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. New Millennium Group LLC bought a new position in Airbnb during the second quarter valued at about $28,000. Finally, Cultivar Capital Inc. bought a new stake in shares of Airbnb during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ABNB shares. Citigroup increased their price target on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Robert W. Baird increased their price objective on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Bank of America reaffirmed a “hold” rating and issued a $142.00 target price (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Finally, Sanford C. Bernstein reduced their target price on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Airbnb has a consensus rating of “Hold” and an average price target of $138.97.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at $23,501,280. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This trade represents a 41.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 417,206 shares of company stock valued at $51,738,467. 27.83% of the stock is owned by corporate insiders.

Airbnb Price Performance

NASDAQ ABNB opened at $131.44 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a market capitalization of $83.33 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The firm’s 50 day moving average is $131.63 and its 200-day moving average is $136.06.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the business posted $2.39 earnings per share. Equities research analysts anticipate that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

About Airbnb

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.