Parallel Advisors LLC Trims Position in Airbnb, Inc. (NASDAQ:ABNB)

Parallel Advisors LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,869 shares of the company’s stock after selling 998 shares during the quarter. Parallel Advisors LLC’s holdings in Airbnb were worth $3,794,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. CAP Partners LLC boosted its position in shares of Airbnb by 3.6% during the 4th quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after acquiring an additional 77 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Airbnb by 1.4% during the 4th quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock valued at $728,000 after acquiring an additional 78 shares during the last quarter. Manchester Capital Management LLC boosted its position in shares of Airbnb by 18.2% during the 4th quarter. Manchester Capital Management LLC now owns 527 shares of the company’s stock valued at $69,000 after acquiring an additional 81 shares during the last quarter. Salvus Wealth Management LLC boosted its position in shares of Airbnb by 2.5% during the 4th quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after acquiring an additional 84 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Airbnb by 19.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock valued at $74,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABNB. Truist Financial dropped their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. JMP Securities restated a “market perform” rating on shares of Airbnb in a research report on Friday, February 14th. Barclays boosted their target price on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. B. Riley boosted their target price on Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company dropped their target price on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $148.15.

Airbnb Price Performance

Shares of ABNB stock opened at $126.94 on Tuesday. The stock has a market cap of $80.04 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 3.52 and a beta of 1.10. The business’s fifty day moving average is $136.06 and its 200 day moving average is $133.14. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.80, for a total value of $27,171,338.00. Following the sale, the director now directly owns 214,290 shares of the company’s stock, valued at approximately $27,171,972. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $128.15, for a total value of $89,705.00. Following the completion of the sale, the chief technology officer now directly owns 182,614 shares in the company, valued at $23,401,984.10. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,055,209 shares of company stock valued at $289,943,548. 27.83% of the stock is currently owned by corporate insiders.

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.