Airbnb, Inc. $ABNB Holdings Cut by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,226 shares of the company’s stock after selling 683 shares during the period. Sagespring Wealth Partners LLC’s holdings in Airbnb were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Sit Investment Associates Inc. increased its stake in shares of Airbnb by 42.8% in the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock worth $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Airbnb by 74.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after acquiring an additional 8,780 shares during the period. Plato Investment Management Ltd grew its stake in Airbnb by 53.1% during the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock worth $2,291,000 after buying an additional 6,579 shares during the last quarter. Acadian Asset Management LLC raised its position in Airbnb by 52.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock valued at $293,590,000 after purchasing an additional 850,719 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of Airbnb in the second quarter valued at about $170,189,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wedbush dropped their target price on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a “hold” rating in a report on Monday, August 11th. Mizuho initiated coverage on shares of Airbnb in a research note on Monday, September 29th. They issued an “outperform” rating and a $151.00 target price for the company. BNP Paribas raised shares of Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Finally, UBS Group decreased their target price on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $141.81.

Airbnb Trading Up 2.5%

ABNB stock opened at $125.91 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 capitalization of $78.25 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The firm has a 50-day moving average price of $123.99 and a 200-day moving average price of $127.27.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider directly owned 182,514 shares of the company’s stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David C. Bernstein sold 5,000 shares of the company’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 of the company’s stock, valued at $6,051,898. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,666,876 shares of company stock worth $210,819,940 over the last 90 days. Company insiders own 27.91% of the company’s stock.

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.