Icon Wealth Advisors LLC Has $3.21 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Icon Wealth Advisors LLC cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,312 shares of the company’s stock after selling 686 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Airbnb were worth $3,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management lifted its holdings in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. New Millennium Group LLC acquired a new position in Airbnb during the 2nd quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in shares of Airbnb in the 2nd quarter valued at about $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Airbnb in the 3rd quarter valued at about $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Price Performance

Airbnb stock opened at $138.28 on Friday. The company has a market cap of $87.67 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 2.00 and a beta of 1.15. The business’s 50 day simple moving average is $133.86 and its 200 day simple moving average is $135.47. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the company earned $2.39 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 76,923 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the sale, the chief executive officer now owns 12,616,300 shares in the company, valued at $1,765,525,022. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares in the company, valued at approximately $23,501,280. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 718,017 shares of company stock worth $91,842,052 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ABNB shares. Truist Financial dropped their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. BMO Capital Markets dropped their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Sanford C. Bernstein dropped their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Jefferies Financial Group boosted their price objective on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $138.97.

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.