Waypoint Wealth Partners Inc. Sells 1,017 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Waypoint Wealth Partners Inc. cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.9% during the first quarter, Holdings Channel.com reports. The fund owned 34,458 shares of the company’s stock after selling 1,017 shares during the period. Airbnb comprises approximately 1.1% of Waypoint Wealth Partners Inc.’s holdings, making the stock its 10th biggest position. Waypoint Wealth Partners Inc.’s holdings in Airbnb were worth $4,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Ritholtz Wealth Management grew its position in shares of Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock valued at $636,000 after acquiring an additional 484 shares during the period. Janney Montgomery Scott LLC lifted its stake in Airbnb by 0.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company’s stock valued at $6,115,000 after buying an additional 228 shares in the last quarter. Spire Wealth Management lifted its stake in Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company’s stock valued at $109,000 after buying an additional 260 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Airbnb by 366.3% in the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company’s stock valued at $106,000 after buying an additional 696 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Airbnb by 39.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock valued at $8,750,000 after buying an additional 20,753 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial reaffirmed a “sell” rating and issued a $106.00 price target (down from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. Morgan Stanley decreased their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. B. Riley decreased their price target on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $142.72.

Airbnb Stock Performance

Airbnb stock opened at $124.55 on Thursday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a 50 day moving average price of $134.33 and a 200 day moving average price of $130.78. The company has a market capitalization of $78.02 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13.

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

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares in the company, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the completion of the transaction, the director owned 236,015 shares of the company’s stock, valued at approximately $30,613,505.65. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,671,023 shares of company stock worth $223,195,427 over the last quarter. Company 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.