Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 51.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,638 shares of the company’s stock after selling 76,527 shares during the period. Cetera Investment Advisers’ holdings in Airbnb were worth $8,797,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABNB. Park Square Financial Group LLC purchased a new stake in Airbnb in the 4th quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb during the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC lifted its holdings in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after buying an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in Airbnb during the first quarter worth $43,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on ABNB shares. Truist Financial reiterated a “sell” rating and issued a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Morgan Stanley increased their price target on shares of Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, July 21st. Royal Bank Of Canada decreased their price objective on shares of Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average target price of $142.10.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. The trade was a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 472,015 shares of the company’s stock, valued at approximately $65,529,842.45. This represents a 33.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,655,558 shares of company stock valued at $219,678,073 in the last quarter. Corporate insiders own 27.91% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB opened at $132.41 on Friday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company has a market capitalization of $82.94 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.51 and a beta of 1.13. The stock has a fifty day moving average of $135.11 and a two-hundred day moving average of $131.22.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. Airbnb’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal 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.