Abound Wealth Management Reduces Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Abound Wealth Management cut its position in Airbnb, Inc. (NASDAQ:ABNB) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,675 shares of the company’s stock after selling 321 shares during the quarter. Abound Wealth Management’s holdings in Airbnb were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Airbnb during the 1st quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in Airbnb in the second quarter valued at $28,000. Trust Co. of Vermont bought a new position in Airbnb during the 4th quarter valued at $27,000. Westend Capital Management LLC acquired a new position in Airbnb during the 1st quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Airbnb in the 1st quarter worth about $33,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of research reports. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Jefferies Financial Group decreased their target price on Airbnb from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Wedbush dropped their price target on Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Mizuho decreased their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday. Finally, Truist Financial dropped their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $133.45.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Gebbia sold 1,500 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the sale, the director now owns 42,087 shares of the company’s stock, valued at $6,313,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The disclosure for this sale can be found here. Insiders have sold 449,932 shares of company stock worth $67,352,949 in the last three months. 27.83% of the stock is currently owned by insiders.

Airbnb Trading Up 0.3 %

Shares of Airbnb stock opened at $117.75 on Monday. The business has a fifty day simple moving average of $128.14 and a 200-day simple moving average of $145.73. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The firm has a market cap of $75.84 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current fiscal 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.