Wealthcare Advisory Partners LLC Trims Position in Airbnb, Inc. $ABNB

Wealthcare Advisory Partners LLC decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,620 shares of the company’s stock after selling 960 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Airbnb were worth $1,008,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ABNB. Park Avenue Securities LLC grew its position in Airbnb by 4.0% in the 1st quarter. Park Avenue Securities LLC now owns 19,445 shares of the company’s stock valued at $2,323,000 after buying an additional 750 shares during the last quarter. Farther Finance Advisors LLC increased its position in Airbnb by 5.3% during the first quarter. Farther Finance Advisors LLC now owns 3,748 shares of the company’s stock worth $454,000 after buying an additional 189 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Airbnb by 98.9% during the 1st quarter. GAMMA Investing LLC now owns 5,115 shares of the company’s stock worth $611,000 after purchasing an additional 2,543 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Airbnb by 8.1% during the first quarter. Integrated Advisors Network LLC now owns 2,387 shares of the company’s stock worth $285,000 after purchasing an additional 179 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock worth $179,991,000 after acquiring an additional 820,887 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ABNB. Mizuho initiated coverage on shares of Airbnb in a report on Monday, September 29th. They issued an “outperform” rating and a $151.00 price target on the stock. Wedbush cut their price objective on Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a research report on Tuesday. Zacks Research upgraded Airbnb to a “hold” rating in a research note on Tuesday, August 12th. Finally, Barclays set a $105.00 price target on Airbnb and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.81.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the sale, the director directly owned 472,015 shares in the company, valued at approximately $65,529,842.45. This trade represents a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,430,876 shares of company stock valued at $182,694,292 in the last three months. Insiders own 27.91% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $119.99 on Thursday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a market cap of $74.57 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10. The firm has a fifty day moving average of $124.78 and a 200-day moving average of $127.42.

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

Airbnb 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.