Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Chevy Chase Trust Holdings LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 227,158 shares of the company’s stock after selling 8,753 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Airbnb were worth $29,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Edgewood Management LLC raised its stake in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Airbnb by 1.6% in 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 acquiring an additional 146,761 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $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 raised 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 valued at $299,272,000 after acquiring an additional 80,610 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,608,005 shares of company stock valued at $214,394,023. 27.83% of the stock is owned by corporate insiders.

Airbnb Stock Performance

NASDAQ ABNB opened at $161.42 on Friday. 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 52-week low of $110.38 and a 52-week high of $170.10. The business’s 50-day moving average price is $133.49 and its 200 day moving average price is $130.17. The firm has a market cap of $102.34 billion, a P/E ratio of 56.64, a P/E/G ratio of 1.88 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. On average, equities research analysts expect that Airbnb, Inc. will post 3.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ABNB shares. Bank of America increased their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Phillip Securities reiterated a “reduce” rating and issued a $120.00 price objective on shares of Airbnb in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Barclays raised their price target on Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Gordon Haskett upgraded Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target on the stock in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $145.79.

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.