SYSTM Wealth Solutions LLC Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

SYSTM Wealth Solutions LLC lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 29.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,583 shares of the company’s stock after selling 5,772 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Airbnb were worth $2,060,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABNB. Dimensional Fund Advisors LP boosted its position in shares of Airbnb by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 694,090 shares of the company’s stock valued at $94,497,000 after buying an additional 48,348 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Airbnb by 40.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,684 shares of the company’s stock valued at $502,000 after purchasing an additional 1,059 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Airbnb by 45.0% in the fourth quarter. Quadrant Capital Group LLC now owns 912 shares of the company’s stock valued at $124,000 after purchasing an additional 283 shares during the period. ING Groep NV boosted its holdings in shares of Airbnb by 241.8% in the fourth quarter. ING Groep NV now owns 9,563 shares of the company’s stock valued at $1,302,000 after purchasing an additional 6,765 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Airbnb by 103.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 78,413 shares of the company’s stock valued at $10,675,000 after purchasing an additional 39,924 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now directly owns 209,374 shares of the company’s stock, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the sale, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total value of $89,382.00. Following the sale, the chief technology officer now owns 209,374 shares in the company, valued at $31,190,444.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 449,332 shares of company stock valued at $67,263,009. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $122.12 on Wednesday. The business has a fifty day moving average of $126.85 and a 200 day moving average of $145.19. The firm has a market capitalization of $78.65 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABNB. Truist Financial lowered their price target on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Argus lowered Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Cantor Fitzgerald started coverage on Airbnb in a report on Thursday, September 5th. They issued an “underweight” rating and a $94.00 price target for the company. Bank of America lowered their target price on Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $134.17.

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.