SVB Wealth LLC Has $4.28 Million Stock Position in Airbnb, Inc. $ABNB

SVB Wealth LLC reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 3.9% during the first quarter, Holdings Channel.com reports. The fund owned 35,787 shares of the company’s stock after selling 1,437 shares during the period. SVB Wealth LLC’s holdings in Airbnb were worth $4,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sit Investment Associates Inc. lifted 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 acquiring an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Airbnb by 74.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock worth $2,451,000 after purchasing an additional 8,780 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock worth $636,000 after purchasing an additional 484 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Airbnb by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company’s stock worth $6,115,000 after purchasing an additional 228 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company’s stock worth $109,000 after purchasing an additional 260 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Airbnb

In related news, CAO David C. Bernstein sold 5,000 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the sale, the insider owned 182,514 shares of the company’s stock, valued at $22,850,752.80. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,692,739 shares of company stock valued at $224,363,640 in the last three months. Insiders own 27.91% of the company’s stock.

Airbnb Trading Up 2.8%

Shares of Airbnb stock opened at $129.92 on Friday. The stock has a fifty day simple moving average of $132.62 and a 200 day simple moving average of $130.55. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a market capitalization of $80.74 billion, a P/E ratio of 31.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (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 business 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 company posted $0.86 earnings per share. Airbnb’s revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABNB shares. Zacks Research upgraded Airbnb to a “hold” rating in a report on Tuesday, August 12th. Jefferies Financial Group lowered their target price on Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a report on Monday, August 11th. Morgan Stanley lowered their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. Wedbush lowered their target price on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Evercore ISI decreased their price objective on Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $142.72.

Airbnb Company 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.