Kestra Advisory Services LLC Reduces Holdings in Airbnb, Inc. $ABNB

Kestra Advisory Services LLC trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,779 shares of the company’s stock after selling 7,341 shares during the quarter. Kestra Advisory Services LLC’s holdings in Airbnb were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ABNB. Harris Associates L P lifted its position in Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after purchasing an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Airbnb by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after buying an additional 47,966 shares during the period. AQR Capital Management LLC increased its stake in shares of Airbnb by 58.4% in the fourth quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after buying an additional 2,492,847 shares during the period. Clearbridge Investments LLC raised its holdings in Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after buying an additional 216,455 shares during the last quarter. Finally, Independent Franchise Partners LLP raised its holdings in Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock valued at $698,452,000 after buying an additional 981,624 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Airbnb

In related news, Director Kenneth I. Chenault sold 8,346 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the transaction, the director owned 40,879 shares in the company, valued at $6,131,850. The trade was a 16.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total transaction of $555,037.50. Following the completion of the transaction, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. The trade was a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is currently owned by company insiders.

Airbnb Stock Performance

Shares of ABNB stock opened at $144.10 on Wednesday. The stock has a fifty day moving average of $139.46 and a 200 day moving average of $134.52. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88. The firm has a market capitalization of $86.85 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 1.55 and a beta of 1.14. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last released its quarterly 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 company had revenue of $2.68 billion during 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 was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. As a group, research analysts expect that Airbnb, Inc. will post 4.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several analyst reports. Citigroup reissued an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. DA Davidson boosted their price objective on shares of Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Cantor Fitzgerald raised shares of Airbnb from a “neutral” rating to an “overweight” rating in a research note on Monday, May 4th. CICC Research initiated coverage on shares of Airbnb in a report on Friday, June 5th. They set an “outperform” rating and a $165.00 target price for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 target price on shares of Airbnb in a research note on Thursday, May 21st. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.65.

Airbnb Profile

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.