GC Wealth Management RIA LLC Cuts Position in Airbnb, Inc. $ABNB

GC Wealth Management RIA LLC lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 89.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,081 shares of the company’s stock after selling 115,358 shares during the period. GC Wealth Management RIA LLC’s holdings in Airbnb were worth $1,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. ORG Partners LLC boosted its position in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after buying an additional 112 shares in the last quarter. Entrust Financial LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its stake in shares of Airbnb by 96.3% during the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of Airbnb stock opened at $141.10 on Friday. The business has a 50 day simple moving average of $139.84 and a two-hundred day simple moving average of $134.62. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $150.88. The stock has a market capitalization of $85.04 billion, a P/E ratio of 34.75, a PEG ratio of 1.47 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. As a group, analysts predict that Airbnb, Inc. will post 4.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABNB. JPMorgan Chase & Co. increased their target price on Airbnb from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. HC Wainwright upgraded shares of Airbnb to a “buy” rating in a research report on Monday, May 4th. DA Davidson increased their price objective on shares of Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Scotiabank began coverage on shares of Airbnb in a report on Monday, May 4th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.65.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 88,366 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $145.81, for a total value of $12,884,646.46. Following the transaction, the insider owned 12,370 shares in the company, valued at approximately $1,803,669.70. This trade represents a 87.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 294,903 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares in the company, valued at $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. In the last ninety days, insiders sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is owned by insiders.

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.