Airbnb, Inc. $ABNB Position Lowered by Dakota Wealth Management

Dakota Wealth Management decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,416 shares of the company’s stock after selling 149 shares during the period. Dakota Wealth Management’s holdings in Airbnb were worth $981,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ABNB. Kentucky Trust Co bought a new position in Airbnb in the second quarter worth about $25,000. Stonebridge Financial Group LLC lifted its holdings in Airbnb by 75.7% in the first 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 last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in Airbnb by 209.6% in the first 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 last quarter. Armstrong Advisory Group Inc. lifted its holdings in Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Finally, SouthState Corp lifted its holdings in Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company’s stock worth $35,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wedbush cut their target price on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Zacks Research raised shares of Airbnb to a “hold” rating in a report on Tuesday, August 12th. Barclays set a $105.00 target price on shares of Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. Morgan Stanley cut their price target on Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $141.46.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $123.70 on Friday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The stock has a market cap of $76.87 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.26 and a beta of 1.13. The stock’s 50 day moving average price is $127.69 and its 200 day moving average price is $127.66.

Airbnb (NASDAQ:ABNB) last announced its 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. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the sale, the insider owned 182,514 shares in the company, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $123.74, for a total value of $74,244.00. Following the sale, the chief technology officer directly owned 199,606 shares of the company’s stock, valued at approximately $24,699,246.44. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,437,726 shares of company stock valued at $186,661,639 over the last 90 days. Corporate insiders own 27.91% of the company’s stock.

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.