WealthCollab LLC Cuts Stock Position in Airbnb, Inc. $ABNB

WealthCollab LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 97.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319 shares of the company’s stock after selling 10,590 shares during the quarter. WealthCollab LLC’s holdings in Airbnb were worth $40,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ABNB. Harris Associates L P grew its position in shares of Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after purchasing an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Airbnb by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after purchasing an additional 47,966 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Airbnb by 58.4% in the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after purchasing an additional 2,492,847 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Airbnb by 3.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after purchasing an additional 216,455 shares during the period. Finally, Independent Franchise Partners LLP boosted its stake in Airbnb by 23.6% in the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock worth $698,452,000 after purchasing an additional 981,624 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 294,903 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $148.43, for a total value of $43,772,452.29. Following the sale, the director directly owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 88,366 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $145.81, for a total transaction of $12,884,646.46. Following the completion of the sale, the insider directly owned 12,370 shares of the company’s stock, valued at approximately $1,803,669.70. The trade was a 87.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,231,864 shares of company stock worth $308,474,278. Insiders own 27.21% of the company’s stock.

Airbnb Stock Down 0.6%

Shares of NASDAQ:ABNB opened at $144.10 on Wednesday. The company has a market cap of $86.85 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 1.55 and a beta of 1.14. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $150.88. The company has a 50-day moving average price of $139.46 and a 200 day moving average price of $134.52. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.Airbnb’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. As a group, equities research analysts predict that Airbnb, Inc. will post 4.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ABNB shares. Benchmark increased their price objective on shares of Airbnb from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, May 8th. Evercore restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. Morgan Stanley cut shares of Airbnb from an “underweight” rating to an “underweight” rating in a research note on Monday, May 4th. Truist Financial raised their target price on shares of Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Finally, The Goldman Sachs Group set a $155.00 price target on shares of Airbnb in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Airbnb presently has a consensus rating of “Moderate Buy” and an average target price of $159.65.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.