Prio Wealth Limited Partnership Sells 18,689 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Prio Wealth Limited Partnership trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,432 shares of the company’s stock after selling 18,689 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Airbnb were worth $16,745,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Focus Financial Network Inc. ADV bought a new stake in shares of Airbnb in the 4th quarter valued at approximately $218,000. Campbell & CO Investment Adviser LLC lifted its position in Airbnb by 72.2% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 4,044 shares of the company’s stock worth $551,000 after buying an additional 1,695 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Airbnb by 204.0% during the fourth quarter. Jones Financial Companies Lllp now owns 526 shares of the company’s stock worth $72,000 after buying an additional 353 shares during the period. CIBC Asset Management Inc increased its position in Airbnb by 1.9% during the fourth quarter. CIBC Asset Management Inc now owns 119,926 shares of the company’s stock valued at $16,327,000 after acquiring an additional 2,188 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in shares of Airbnb in the fourth quarter valued at $468,000. Institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated 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 sale, 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 filing with the SEC, which is available through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were 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 filing with the SEC, which is available at this link. Also, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction on Monday, July 8th. The stock was sold at an average price of $151.95, for a total transaction of $17,532,750.75. Following the sale, the chief executive officer now owns 13,914,302 shares of the company’s stock, valued at $2,114,278,188.90. The disclosure for this sale can be found here. Insiders have sold 552,389 shares of company stock valued at $75,733,256 in the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Raymond James started coverage on shares of Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price target for the company. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Airbnb in a research report on Monday, August 26th. B. Riley reduced their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird decreased their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $134.16.

Airbnb Stock Down 1.1 %

Shares of Airbnb stock opened at $125.47 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a market cap of $80.81 billion, a P/E ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.16. The firm’s 50 day moving average price is $122.82 and its 200-day moving average price is $142.74. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. Airbnb’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

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.