Pacer Advisors Inc. Sells 4,124,684 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Pacer Advisors Inc. decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 97.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 116,873 shares of the company’s stock after selling 4,124,684 shares during the period. Pacer Advisors Inc.’s holdings in Airbnb were worth $15,358,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Meritage Group LP bought a new stake in shares of Airbnb in the third quarter worth $160,985,000. Edgewood Management LLC increased its stake in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the last quarter. International Assets Investment Management LLC increased its stake in Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after buying an additional 1,113,747 shares during the last quarter. Temasek Holdings Private Ltd lifted its position in Airbnb by 91.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after buying an additional 1,109,076 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Airbnb by 2,527.5% during the 3rd quarter. M&T Bank Corp now owns 458,243 shares of the company’s stock worth $58,110,000 after buying an additional 440,803 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Up 1.6 %

ABNB stock opened at $131.05 on Wednesday. The company has a market cap of $83.08 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. 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 has a 50-day simple moving average of $133.90 and a 200 day simple moving average of $130.87.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period last year, the company posted $2.39 EPS. Sell-side analysts anticipate that Airbnb, Inc. will post 3.98 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares in the company, valued at approximately $5,559,597. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at $1,352,876.68. This represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,157,308 shares of company stock valued at $153,981,848 over the last ninety days. 27.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays upped their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Piper Sandler increased their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley raised their target price on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Wedbush upped their price target on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $139.63.

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.