Jennison Associates LLC Sells 789,628 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Jennison Associates LLC cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.3% during the 4th quarter, HoldingsChannel reports. The firm owned 10,025,952 shares of the company’s stock after selling 789,628 shares during the period. Jennison Associates LLC’s holdings in Airbnb were worth $1,317,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgewood Management LLC lifted its holdings in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC raised its stake in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after buying an additional 146,761 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after acquiring an additional 52,358 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Airbnb by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock worth $299,272,000 after acquiring an additional 80,610 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the transaction, the chief technology officer now owns 185,414 shares in the company, valued at $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $129.21, for a total value of $27,687,764.85. Following the completion of the sale, the director now directly owns 857,145 shares in the company, valued at $110,751,705.45. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,372,293 shares of company stock valued at $181,759,318 in the last three months. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Trading Down 0.5 %

Shares of Airbnb stock opened at $131.17 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company has a fifty day moving average of $133.69 and a 200 day moving average of $130.51. The company has a market capitalization of $83.16 billion, a P/E ratio of 46.02, a P/E/G ratio of 1.72 and a beta of 1.12. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business posted $2.39 EPS. On average, sell-side analysts anticipate that Airbnb, Inc. will post 3.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABNB. Truist Financial dropped their price target on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Wedbush upped their target price on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. DA Davidson raised their price target on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Evercore ISI boosted their price target on Airbnb to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, January 15th. Finally, Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.63.

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.