Gemmer Asset Management LLC Sells 107 Shares of Airbnb, Inc. (NASDAQ:ABNB)

by · The Cerbat Gem

Gemmer Asset Management LLC cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,775 shares of the company’s stock after selling 107 shares during the quarter. Gemmer Asset Management LLC’s holdings in Airbnb were worth $225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in Airbnb by 20.6% during the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after buying an additional 83,383 shares during the period. Shellback Capital LP acquired a new position in Airbnb during the 2nd quarter worth about $22,744,000. Bradley Foster & Sargent Inc. CT lifted its holdings in Airbnb by 1,231.3% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after buying an additional 19,183 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Airbnb by 2.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock worth $182,335,000 after buying an additional 26,735 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Price Performance

Airbnb stock opened at $135.82 on Monday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $124.97 and its 200 day simple moving average is $138.88. The company has a market cap of $87.47 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.83 and a beta of 1.17.

Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Airbnb, Inc. will post 4.33 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total transaction of $81,666.00. Following the sale, the chief technology officer now owns 192,844 shares in the company, valued at $26,247,996.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total value of $81,666.00. Following the completion of the sale, the chief technology officer now owns 192,844 shares in the company, valued at $26,247,996.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 406,171 shares of company stock worth $50,208,253 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABNB shares. Truist Financial dropped their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. The Goldman Sachs Group dropped their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Piper Sandler dropped their price objective on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Finally, Raymond James started coverage on Airbnb in a research note on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average price target of $135.35.

Check Out Our Latest Stock Report on Airbnb

Airbnb Profile

(Free Report)

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.

Further Reading

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