Airbnb, Inc. (NASDAQ:ABNB) Holdings Lowered by Wealth Alliance

Wealth Alliance cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 38.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,284 shares of the company’s stock after selling 1,403 shares during the period. Wealth Alliance’s holdings in Airbnb were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC lifted its stake in Airbnb by 2.3% during the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after purchasing an additional 67 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Airbnb by 0.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after acquiring an additional 68 shares during the last quarter. Farrow Financial Inc. lifted its position in shares of Airbnb by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 69 shares during the last quarter. Heritage Wealth Advisors boosted its stake in shares of Airbnb by 55.0% during the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Finally, GYL Financial Synergies LLC grew its holdings in shares of Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after acquiring an additional 76 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Airbnb in a research report on Thursday, September 5th. They issued an “underweight” rating and a $94.00 price target for the company. Susquehanna cut their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays decreased their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird reduced their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $134.17.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $128.75 on Friday. The company has a market cap of $82.92 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.54 and a beta of 1.16. The business has a 50 day moving average price of $126.26 and a 200 day moving average price of $145.03. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now owns 209,374 shares in the company, valued at $31,190,444.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now directly owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the transaction, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. The disclosure for this sale can be found here. In the last quarter, insiders sold 685,451 shares of company stock worth $95,552,289. 27.83% of the stock is currently owned by company insiders.

Airbnb Company 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.