Waldron Private Wealth LLC Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Waldron Private Wealth LLC trimmed its stake in Airbnb, Inc. (NASDAQ:ABNB) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,007 shares of the company’s stock after selling 112 shares during the period. Waldron Private Wealth LLC’s holdings in Airbnb were worth $2,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Eastern Bank purchased a new position in Airbnb in the 3rd quarter worth approximately $105,000. Sierra Capital LLC bought a new stake in shares of Airbnb during the 3rd quarter worth $637,000. GFG Capital LLC grew its position in Airbnb by 19.7% in the third quarter. GFG Capital LLC now owns 73,153 shares of the company’s stock worth $10,293,000 after acquiring an additional 12,040 shares in the last quarter. Venture Visionary Partners LLC grew its position in Airbnb by 2.6% in the third quarter. Venture Visionary Partners LLC now owns 25,106 shares of the company’s stock worth $3,184,000 after acquiring an additional 647 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Airbnb by 67.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 57,266 shares of the company’s stock valued at $7,262,000 after acquiring an additional 23,132 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Down 1.3 %

NASDAQ:ABNB traded down $1.76 during mid-day trading on Tuesday, hitting $135.43. 1,245,169 shares of the company’s stock were exchanged, compared to its average volume of 4,426,261. The company has a market cap of $87.22 billion, a PE ratio of 18.21, a P/E/G ratio of 1.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The business has a fifty day moving average price of $123.64 and a 200 day moving average price of $139.65.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. Equities analysts predict that Airbnb, Inc. will post 4.33 EPS for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total value of $75,942.00. Following the transaction, the chief technology officer now owns 205,774 shares in the company, valued at $26,044,815.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Elinor Mertz sold 6,250 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 $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total value of $75,942.00. Following the sale, the chief technology officer now directly owns 205,774 shares in the company, valued at $26,044,815.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 405,571 shares of company stock worth $50,126,587 over the last three months. 27.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several research analyst reports. B. Riley dropped their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Barclays lowered their price objective on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Truist Financial reduced their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, Mizuho lowered their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $135.03.

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.