Airbnb, Inc. (NASDAQ:ABNB) Position Reduced by Atticus Wealth Management LLC

Atticus Wealth Management LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 57.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298 shares of the company’s stock after selling 409 shares during the period. Atticus Wealth Management LLC’s holdings in Airbnb were worth $49,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Airbnb by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Norges Bank acquired a new position in Airbnb during the fourth quarter valued at $619,584,000. Edgewood Management LLC lifted its stake in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its stake in Airbnb by 48.3% in 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 in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Airbnb by 12,298.0% during the 4th 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 during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total value of $96,426.00. Following the sale, the chief technology officer now directly owns 143,131 shares in the company, valued at approximately $23,002,583.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.71, for a total value of $96,426.00. Following the sale, the chief technology officer now owns 143,131 shares in the company, valued at approximately $23,002,583.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 1,500 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $150.00, for a total transaction of $225,000.00. Following the completion of the sale, the director now directly owns 42,087 shares in the company, valued at approximately $6,313,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 413,287 shares of company stock worth $61,071,555. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock traded up $0.02 during mid-day trading on Friday, reaching $151.63. The stock had a trading volume of 3,842,498 shares, compared to its average volume of 3,646,274. Airbnb, Inc. has a one year low of $113.24 and a one year high of $170.10. The firm has a market cap of $97.66 billion, a PE ratio of 20.30, a P/E/G ratio of 1.88 and a beta of 1.18. The firm’s 50 day simple moving average is $150.43 and its 200 day simple moving average is $150.98. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.65 EPS for the current year.

Analysts Set New Price Targets

ABNB has been the topic of a number of research reports. B. Riley initiated coverage on Airbnb in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price on the stock. B. Riley Financial began coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price on the stock. HSBC downgraded Airbnb from a “buy” rating to a “hold” rating and cut their price target for the stock from $160.00 to $156.00 in a research note on Thursday, May 9th. UBS Group boosted their price target on Airbnb from $143.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Bank of America raised their price objective on shares of Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.