Baker Tilly Wealth Management LLC Cuts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Baker Tilly Wealth Management LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 35.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,836 shares of the company’s stock after selling 1,026 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Airbnb were worth $233,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Airbnb by 2.4% during the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after acquiring an additional 791,149 shares during the period. Jennison Associates LLC raised its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Legal & General Group Plc grew its position in Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares during the period. Finally, Alphinity Investment Management Pty Ltd increased its holdings in Airbnb by 1.6% during the first quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock worth $418,341,000 after buying an additional 39,129 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 406,171 shares of company stock worth $50,208,253. 27.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of research analyst reports. TD Cowen dropped their target price on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research report on Monday, October 7th. Piper Sandler cut their price target on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. UBS Group lifted their price objective on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Barclays cut their target price on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $135.35.

Airbnb Stock Up 0.9 %

Shares of NASDAQ:ABNB opened at $135.78 on Tuesday. The stock’s 50-day moving average is $125.30 and its 200 day moving average is $138.67. The company has a market cap of $87.45 billion, a PE ratio of 18.18, a P/E/G ratio of 1.83 and a beta of 1.17. 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 earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Airbnb’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb, Inc. will post 4.33 EPS for the current 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.