Columbia Asset Management Sells 385 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Columbia Asset Management cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,309 shares of the company’s stock after selling 385 shares during the quarter. Columbia Asset Management’s holdings in Airbnb were worth $350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in shares of Airbnb in the first quarter valued at $25,000. New Millennium Group LLC bought a new position in shares of Airbnb in the second quarter valued at $28,000. Trust Co. of Vermont bought a new position in shares of Airbnb in the fourth quarter valued at $27,000. Westend Capital Management LLC bought a new position in shares of Airbnb in the first quarter valued at $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Airbnb in the first quarter valued at $33,000. 80.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David C. Bernstein sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $145.50, for a total value of $291,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 45,043 shares of the company’s stock, valued at approximately $6,553,756.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 612,907 shares of company stock valued at $91,473,471. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Up 0.8 %

Shares of NASDAQ ABNB opened at $116.16 on Friday. 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 company has a market cap of $74.81 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.55 and a beta of 1.16. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a 50-day moving average price of $132.52 and a two-hundred day moving average price of $147.29.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. As a group, analysts forecast that Airbnb, Inc. will post 4.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Bank of America cut their price target on Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Barclays cut their price target on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. HSBC downgraded Airbnb from a “buy” rating to a “hold” rating and cut their price target for the company from $160.00 to $156.00 in a report on Thursday, May 9th. Finally, B. Riley cut their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $134.48.

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.