This article first appeared on GuruFocus.
ETFs sold a net $192.5 million of Airbnb (ABNB) stock on Friday, Oct. 16, with 16 funds selling and 26 buying. More ETFs traded the other way but in smaller amounts, leaving the day’s ETF flows negative by dollar value. The selling extended a three-day streak of net outflows, following $0.1 million on Oct. 15 and $3.3 million on Oct. 14, after net buying of $19.5 million on Oct. 13.
For the full record of ETF and guru buying and selling in ABNB, see the ABNB guru trades page.
Which ETFs sold ABNB on Friday?
The largest sellers by dollar value were FTCS ($179.3 million), QQQ ($10.6 million) and XLY ($7.0 million). In all, 26 ETFs added shares and 16 cut them.
FTCS accounted for the bulk of the move, cutting its position by 1,032,055 shares for a $179.3 million reduction in value. QQQ sold 61,006 shares worth $10.6 million, while XLY shed 40,131 shares valued at $7.0 million. Smaller reductions came from FDN, RSP, IYC, IWF and QLD. Airbnb sits in the Consumer Cyclical sector and Travel Services industry with a market cap of $103.4 billion.
Have ETFs been buying or selling ABNB lately?
Over the last 5 reported days, ETFs were net buyers on 2 and net sellers on 3, so the recent trend is mostly selling.
What does ABNB do?
Airbnb operates the world’s largest marketplace for short-term stays and experiences, connecting over 5 million hosts with guests across more than 220 countries and regions. The platform generates revenue from service fees on gross booking value, which exceeds $80 billion annually across hundreds of millions of nights and experiences booked.
Airbnb reported trailing-12-month revenue of $13.22 billion, up 18.2% from a year earlier, with a gross margin of 72.6% and a net margin of 20.4%. The stock trades at a P/E of 39.88, P/B of 13.27 and P/S of 8.1. Its GF Score is 90, and the GF Value of $179.09 compares with a price of $175.46. Airbnb has returned 29.28% year to date.