Avitas Wealth Management LLC Has $1.75 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Avitas Wealth Management LLC reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,321 shares of the company’s stock after selling 100 shares during the quarter. Avitas Wealth Management LLC’s holdings in Airbnb were worth $1,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management grew its stake in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of Airbnb in the third quarter valued at approximately $30,000. Finally, Quarry LP acquired a new position in shares of Airbnb in the 3rd quarter worth approximately $55,000. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the sale, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now directly owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,372,293 shares of company stock valued at $181,759,318 in the last 90 days. 27.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABNB shares. JPMorgan Chase & Co. raised their price target on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. UBS Group raised their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Phillip Securities reiterated a “reduce” rating and set a $120.00 price target on shares of Airbnb in a research report on Tuesday, November 12th. Barclays raised their price objective on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, Truist Financial dropped their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $139.63.

Airbnb Price Performance

Shares of ABNB opened at $130.74 on Wednesday. The stock has a 50 day simple moving average of $133.29 and a 200 day simple moving average of $130.27. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $82.89 billion, a PE ratio of 45.87, a P/E/G ratio of 1.72 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the company earned $2.39 EPS. Sell-side analysts predict that Airbnb, Inc. will post 3.98 EPS for the current fiscal year.

Airbnb 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.