International Assets Investment Management LLC Lowers Stake in Airbnb, Inc. $ABNB

International Assets Investment Management LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,932 shares of the company’s stock after selling 512 shares during the quarter. International Assets Investment Management LLC’s holdings in Airbnb were worth $917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABNB. Kentucky Trust Co bought a new stake in shares of Airbnb during the second quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after buying an additional 83 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Airbnb during the second quarter valued at approximately $28,000. Stonebridge Financial Group LLC raised its position in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after buying an additional 106 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after buying an additional 174 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $124.26, for a total transaction of $74,556.00. Following the completion of the sale, the chief technology officer directly owned 197,206 shares of the company’s stock, valued at approximately $24,504,817.56. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction that occurred 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 directly owned 444,070 shares of the company’s stock, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,431,476 shares of company stock valued at $178,130,616. 27.83% of the stock is currently owned by insiders.

Airbnb Price Performance

NASDAQ:ABNB opened at $127.21 on Tuesday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a 50-day moving average of $124.17 and a 200 day moving average of $127.54. The firm has a market cap of $79.05 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. BTIG Research restated a “neutral” rating on shares of Airbnb in a report on Tuesday, October 7th. Truist Financial cut their price target on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a report on Wednesday, September 3rd. Mizuho initiated coverage on shares of Airbnb in a report on Monday, September 29th. They issued an “outperform” rating and a $151.00 price target on the stock. Finally, Wedbush cut their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Three 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $141.81.

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.