Airbnb, Inc. (NASDAQ:ABNB) Holdings Cut by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 14.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,132 shares of the company’s stock after selling 357 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Airbnb were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Airbnb by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after buying an additional 10,301,746 shares during the period. Norges Bank acquired a new stake in Airbnb during the 4th quarter worth $619,584,000. Edgewood Management LLC increased its holdings in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its stake in Airbnb by 48.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after acquiring an additional 813,074 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Airbnb by 12,298.0% during the fourth quarter. International Assets Investment Management LLC now owns 764,835 shares of the company’s stock worth $1,041,250,000 after acquiring an additional 758,666 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Trading Up 1.1 %

Shares of Airbnb stock opened at $151.61 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a 50-day moving average of $150.50 and a 200-day moving average of $150.85. Airbnb, Inc. has a 52-week low of $113.24 and a 52-week high of $170.10. The stock has a market cap of $97.64 billion, a PE ratio of 20.30, a PEG ratio of 1.87 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.65 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the sale, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now directly owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The transaction 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 company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at approximately $35,624,448. The disclosure for this sale can be found here. Insiders have sold a total of 413,287 shares of company stock worth $61,071,555 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup lowered their target price on Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Thursday, May 9th. Bank of America boosted their target price on Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. DA Davidson reiterated a “neutral” rating and issued a $145.00 price objective on shares of Airbnb in a report on Thursday, May 9th. Finally, UBS Group increased their target price on shares of Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $152.38.

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.