Vontobel Holding Ltd. Sells 7,303 Shares of Airbnb, Inc. $ABNB

Vontobel Holding Ltd. trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 16.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,032 shares of the company’s stock after selling 7,303 shares during the quarter. Vontobel Holding Ltd.’s holdings in Airbnb were worth $4,901,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ABNB. Kentucky Trust Co bought a new stake in Airbnb in the second quarter worth approximately $25,000. Stonebridge Financial Group LLC grew its position in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after acquiring an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after acquiring an additional 174 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the period. Finally, SouthState Corp boosted its holdings in shares of Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company’s stock worth $35,000 after buying an additional 201 shares during the period. 80.76% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the transaction, the director directly owned 472,015 shares in the company, valued at $65,529,842.45. This represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the transaction, the chief financial officer owned 444,070 shares of the company’s stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,430,876 shares of company stock worth $182,694,292. Corporate insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several recent analyst reports. Wedbush decreased their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Morgan Stanley decreased their price objective on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. Jefferies Financial Group decreased their price objective on shares of Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a report on Monday, August 11th. UBS Group decreased their price objective on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Zacks Research raised shares of Airbnb to a “hold” rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Airbnb has a consensus rating of “Hold” and an average target price of $141.81.

Airbnb Price Performance

NASDAQ:ABNB opened at $118.19 on Friday. 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 one year low of $99.88 and a one year high of $163.93. The company has a fifty day moving average price of $124.34 and a 200 day moving average price of $127.27.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. The firm 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 business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

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.