Great Valley Advisor Group Inc. Sells 6,443 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Great Valley Advisor Group Inc. decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 53.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,514 shares of the company’s stock after selling 6,443 shares during the period. Great Valley Advisor Group Inc.’s holdings in Airbnb were worth $836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. Transcendent Capital Group LLC bought a new stake in shares of Airbnb during the 1st quarter valued at about $25,000. Bfsg LLC purchased a new position in Airbnb in the 4th quarter worth approximately $27,000. Trust Co. of Vermont bought a new position in shares of Airbnb in the 4th quarter worth $27,000. Vima LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at $29,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Airbnb during the 1st quarter valued at $33,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the transaction, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $146.00, for a total transaction of $87,600.00. Following the transaction, the chief technology officer now directly owns 211,774 shares of the company’s stock, valued at approximately $30,919,004. The disclosure for this sale can be found here. Insiders have sold 735,492 shares of company stock worth $109,402,066 over the last ninety days. 27.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABNB. Susquehanna lowered their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets decreased their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. UBS Group cut their target price on Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Mizuho raised shares of Airbnb from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $200.00 in a research note on Wednesday, April 24th. Finally, Truist Financial upped their price objective on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $137.00.

Airbnb Trading Up 0.2 %

Shares of ABNB traded up $0.27 during trading hours on Wednesday, reaching $117.17. 1,867,576 shares of the company traded hands, compared to its average volume of 4,580,412. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $143.19 and its two-hundred day moving average price is $151.14. The company has a market capitalization of $75.46 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts predict that Airbnb, Inc. will post 4.66 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.