WealthCollab LLC Sells 10,590 Shares of Airbnb, Inc. $ABNB

WealthCollab LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 97.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319 shares of the company’s stock after selling 10,590 shares during the period. WealthCollab LLC’s holdings in Airbnb were worth $40,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC raised its stake in Airbnb by 72.1% during the 4th quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock valued at $4,478,000 after buying an additional 13,818 shares during the last quarter. North Dakota State Investment Board bought a new position in shares of Airbnb during the 4th quarter valued at $2,785,000. North Star Asset Management Inc. boosted its stake in shares of Airbnb by 13.4% in the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after buying an additional 9,294 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Airbnb by 18.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock worth $30,305,000 after buying an additional 34,573 shares during the last quarter. Finally, Danske Bank A S grew its holdings in shares of Airbnb by 11.0% in the fourth quarter. Danske Bank A S now owns 235,557 shares of the company’s stock worth $31,970,000 after acquiring an additional 23,422 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of Airbnb stock opened at $144.10 on Wednesday. Airbnb, Inc. has a one year low of $110.81 and a one year high of $150.88. The stock’s fifty day moving average is $139.46 and its 200 day moving average is $134.52. The stock has a market cap of $86.85 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.55 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. Sell-side analysts anticipate that Airbnb, Inc. will post 4.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABNB. Wedbush initiated coverage on Airbnb in a research report on Thursday, July 16th. They set a “neutral” rating and a $152.00 price objective for the company. DA Davidson boosted their price target on Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $173.00 price target on shares of Airbnb in a research report on Thursday, May 21st. The Goldman Sachs Group set a $155.00 price objective on shares of Airbnb in a research note on Monday. Finally, Needham & Company LLC initiated coverage on shares of Airbnb in a report on Monday, May 4th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Airbnb has a consensus rating of “Moderate Buy” and an average price target of $159.65.

Insider Activity

In related news, CEO Brian Chesky sold 265,746 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total value of $35,136,936.12. Following the completion of the sale, the chief executive officer directly owned 11,206,389 shares of the company’s stock, valued at approximately $1,481,708,753.58. This represents a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 294,903 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the sale, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,231,864 shares of company stock valued at $308,474,278 in the last ninety days. Corporate insiders own 27.21% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.