Abound Wealth Management Sells 124 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Abound Wealth Management lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 3.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,233 shares of the company’s stock after selling 124 shares during the period. Abound Wealth Management’s holdings in Airbnb were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its stake in shares of Airbnb by 3.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 30,474 shares of the company’s stock valued at $4,621,000 after purchasing an additional 1,099 shares during the period. Meeder Asset Management Inc. grew its position in Airbnb by 73.6% in the second quarter. Meeder Asset Management Inc. now owns 375 shares of the company’s stock valued at $57,000 after acquiring an additional 159 shares during the period. Wealthspire Advisors LLC acquired a new position in Airbnb during the second quarter worth $3,018,000. Envestnet Asset Management Inc. lifted its holdings in shares of Airbnb by 10.8% during the second quarter. Envestnet Asset Management Inc. now owns 920,842 shares of the company’s stock valued at $139,627,000 after acquiring an additional 89,978 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Airbnb by 52.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,466 shares of the company’s stock valued at $374,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Truist Financial reduced their target price on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Wedbush raised their price target on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Robert W. Baird boosted their price objective on Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.32.

Airbnb Stock Down 0.7 %

Shares of NASDAQ ABNB traded down $0.85 during mid-day trading on Monday, hitting $128.78. The company had a trading volume of 2,282,547 shares, compared to its average volume of 3,476,358. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a market capitalization of $81.64 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $134.98 and a two-hundred day simple moving average of $132.55.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate 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. On average, equities analysts expect that Airbnb, Inc. will post 3.99 EPS for the current year.

Insider Activity

In related news, insider Nathan Blecharczyk sold 9,603 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $133.51, for a total transaction of $80,106.00. Following the completion of the sale, the chief technology officer now owns 193,444 shares of the company’s stock, valued at $25,826,708.44. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 916,597 shares of company stock valued at $122,880,766. 27.83% of the stock is owned by company insiders.

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.