Lmcg Investments LLC Cuts Stock Holdings in Airbnb, Inc. $ABNB

Lmcg Investments LLC lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,966 shares of the company’s stock after selling 3,312 shares during the period. Lmcg Investments LLC’s holdings in Airbnb were worth $5,157,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its stake in Airbnb by 1.6% during the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock worth $604,000 after purchasing an additional 78 shares during the period. Harbour Investments Inc. raised its stake in Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock worth $88,000 after purchasing an additional 80 shares during the period. Koshinski Asset Management Inc. raised its stake in Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock worth $237,000 after purchasing an additional 83 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its stake in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares during the period. Finally, Rakuten Securities Inc. increased its position in shares of Airbnb by 31.6% in the first quarter. Rakuten Securities Inc. now owns 379 shares of the company’s stock worth $45,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABNB shares. Jefferies Financial Group dropped their price objective on shares of Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the stock an “underweight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Finally, Truist Financial dropped their price objective on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research report on Wednesday, September 3rd. Three investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus target price of $141.81.

Airbnb Price Performance

NASDAQ:ABNB opened at $118.19 on Friday. The firm has a 50-day moving average of $124.34 and a two-hundred day moving average of $127.27. The stock has a market cap of $73.45 billion, a P/E ratio of 28.62, a PEG ratio of 2.19 and a beta of 1.10. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the transaction, the chief accounting officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the transaction, the director directly owned 472,015 shares of the company’s stock, valued at approximately $65,529,842.45. This represents a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,430,876 shares of company stock worth $182,694,292 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.