MetLife Investment Management LLC Decreases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

MetLife Investment Management LLC cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,262 shares of the company’s stock after selling 3,689 shares during the quarter. MetLife Investment Management LLC’s holdings in Airbnb were worth $17,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Edgewood Management LLC boosted 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 purchasing an additional 1,143,464 shares during the period. Pacer Advisors Inc. lifted its holdings in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Legal & General Group Plc lifted its holdings in Airbnb by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after buying an additional 153,784 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Airbnb by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after buying an additional 52,358 shares during the last quarter. Finally, MKA Charitable Fund grew its stake in shares of Airbnb by 17.2% during the third quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock valued at $255,632,000 after acquiring an additional 296,153 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

NASDAQ ABNB opened at $138.28 on Thursday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The firm has a market capitalization of $87.67 billion, a PE ratio of 48.52, a P/E/G ratio of 2.00 and a beta of 1.15. The company’s 50 day simple moving average is $133.86 and its 200 day simple moving average is $135.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last issued its quarterly 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). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the business posted $2.39 earnings per share. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ABNB. Jefferies Financial Group boosted their price target on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Bank of America reiterated a “hold” rating and set a $142.00 target price (up from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Sanford C. Bernstein dropped their price target on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. TD Cowen upped their price target on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $138.97.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares in the company, valued at $64,448,640. The trade was a 1.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares in the company, valued at $23,501,280. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 718,017 shares of company stock worth $91,842,052. 27.83% of the stock is owned by corporate insiders.

Airbnb Company 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.