Airbnb, Inc. $ABNB Stake Cut by Toth Financial Advisory Corp

Toth Financial Advisory Corp cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 44.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 293 shares of the company’s stock after selling 236 shares during the quarter. Toth Financial Advisory Corp’s holdings in Airbnb were worth $39,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in Airbnb during the 4th quarter worth about $26,000. Stonebridge Financial Group LLC boosted its position in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after acquiring an additional 174 shares during the period. SouthState Corp boosted its position in Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company’s stock worth $35,000 after acquiring an additional 201 shares during the period. Finally, BankPlus Trust Department acquired a new stake in Airbnb during the 1st quarter worth about $43,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on ABNB shares. Wedbush decreased their price objective on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Phillip Securities raised Airbnb from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 8th. Zacks Research raised Airbnb to a “hold” rating in a research note on Tuesday, August 12th. Morgan Stanley cut their price target on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 price target on Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.19.

Airbnb Stock Up 1.3%

Shares of NASDAQ ABNB opened at $127.04 on Monday. The business’s 50 day moving average is $129.15 and its two-hundred day moving average is $127.86. The company has a market cap of $78.95 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.32 and a beta of 1.13. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares of the company’s stock, valued at $6,051,898. The trade was a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares in the company, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,437,726 shares of company stock valued at $186,665,593. Corporate insiders own 27.91% 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.