International Assets Investment Management LLC Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

International Assets Investment Management LLC cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 11.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,444 shares of the company’s stock after selling 933 shares during the period. International Assets Investment Management LLC’s holdings in Airbnb were worth $889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Airbnb during the fourth quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Airbnb in the 4th quarter worth about $28,000. Graney & King LLC purchased a new position in Airbnb in the 4th quarter worth about $32,000. Whipplewood Advisors LLC purchased a new position in Airbnb in the 4th quarter worth about $44,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Airbnb during the 4th quarter valued at about $49,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $129.67 on Thursday. The stock has a market cap of $81.23 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. The firm’s fifty day moving average is $129.14 and its 200 day moving average is $130.50. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. Airbnb’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analysts Set New Price Targets

ABNB has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a report on Friday, May 2nd. Truist Financial restated a “sell” rating and issued a $106.00 target price (down previously from $112.00) on shares of Airbnb in a report on Friday, May 30th. Wedbush downgraded shares of Airbnb from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated an “underweight” rating and set a $100.00 target price on shares of Airbnb in a research note on Wednesday, May 14th. Finally, Piper Sandler lowered their price target on Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $141.23.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the completion of the transaction, the director now directly owns 944,015 shares in the company, valued at $122,212,181.90. This represents a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $119.67, for a total transaction of $83,769.00. Following the sale, the chief technology officer now directly owns 170,019 shares of the company’s stock, valued at approximately $20,346,173.73. This trade represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,646,087 shares of company stock worth $206,326,144. 27.91% of the stock is owned by corporate insiders.

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.