Portside Wealth Group LLC Sells 378 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Portside Wealth Group LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,544 shares of the company’s stock after selling 378 shares during the period. Portside Wealth Group LLC’s holdings in Airbnb were worth $4,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of Airbnb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management boosted its holdings in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Airbnb in the third quarter worth $30,000. Quarry LP bought a new stake in shares of Airbnb during the third quarter valued at about $55,000. Finally, CVA Family Office LLC grew its stake in Airbnb by 131.2% during the third quarter. CVA Family Office LLC now owns 474 shares of the company’s stock valued at $60,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $137.00, for a total value of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares of the company’s stock, valued at approximately $5,559,597. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $128.95, for a total value of $27,632,050.75. Following the completion of the transaction, the director now directly owns 1,071,430 shares of the company’s stock, valued at approximately $138,160,898.50. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,130,982 shares of company stock valued at $150,523,585. 27.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABNB shares. Wells Fargo & Company decreased their price target on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a report on Monday, October 7th. UBS Group boosted their price objective on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna raised their target price on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Monday, November 11th. Finally, Citigroup boosted their price target on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.63.

Airbnb Price Performance

ABNB opened at $135.12 on Friday. The stock’s 50 day moving average price is $134.16 and its 200-day moving average price is $132.11. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The stock has a market capitalization of $85.66 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company posted $2.39 earnings per share. On average, equities research analysts predict that Airbnb, Inc. will post 3.99 EPS for the current 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.