Institute for Wealth Management LLC. Has $533,000 Stake in Airbnb, Inc. (NASDAQ:ABNB)

Institute for Wealth Management LLC. trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,059 shares of the company’s stock after selling 349 shares during the period. Institute for Wealth Management LLC.’s holdings in Airbnb were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABNB. Pacer Advisors Inc. raised its holdings in shares of Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after acquiring an additional 4,172,985 shares during the period. Meritage Group LP acquired a new stake in shares of Airbnb during the third quarter worth $160,985,000. Edgewood Management LLC increased its stake in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the last quarter. International Assets Investment Management LLC increased its stake in Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after buying an additional 1,113,747 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its stake in Airbnb by 91.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after buying an additional 1,109,076 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABNB. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. Susquehanna lifted their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Monday, November 11th. Wedbush lifted their price target on shares of Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday, November 8th. Finally, Wells Fargo & Company lowered their price target on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.63.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $128.15, for a total value of $89,705.00. Following the completion of the transaction, the chief technology officer now directly owns 182,614 shares in the company, valued at approximately $23,401,984.10. The trade was a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the transaction, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,372,293 shares of company stock worth $181,759,318. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

NASDAQ ABNB opened at $131.17 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $83.16 billion, a P/E ratio of 46.02, a P/E/G ratio of 1.74 and a beta of 1.13. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a 50-day moving average price of $133.69 and a two-hundred day moving average price of $130.78.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the firm earned $2.39 EPS. Analysts anticipate that Airbnb, Inc. will post 3.98 earnings per share for the current year.

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.