Arkadios Wealth Advisors Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Arkadios Wealth Advisors cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,742 shares of the company’s stock after selling 85 shares during the quarter. Arkadios Wealth Advisors’ holdings in Airbnb were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ABNB. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Airbnb during the 1st quarter worth $215,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Airbnb by 2.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock valued at $182,335,000 after acquiring an additional 26,735 shares during the period. Lake Street Private Wealth LLC purchased a new position in Airbnb during the 1st quarter valued at about $241,000. First Trust Direct Indexing L.P. boosted its holdings in Airbnb by 32.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 8,189 shares of the company’s stock valued at $1,351,000 after acquiring an additional 2,027 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in Airbnb by 3.0% during the 1st quarter. Maryland State Retirement & Pension System now owns 32,508 shares of the company’s stock valued at $5,097,000 after acquiring an additional 956 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

Airbnb stock opened at $136.50 on Thursday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $126.08 and a 200-day simple moving average of $138.50. The stock has a market capitalization of $87.58 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 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 company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the company earned $0.98 EPS. Airbnb’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that Airbnb, Inc. will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of research analyst reports. Raymond James initiated coverage on Airbnb in a report on Friday, September 27th. They set a “market perform” rating and a $134.00 target price for the company. B. Riley lowered their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Truist Financial decreased their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Monday, August 26th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $135.35.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,171 shares of company stock valued at $50,208,253 over the last quarter. Company insiders own 27.83% of the company’s stock.

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.