EP Wealth Advisors LLC Cuts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

EP Wealth Advisors LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,148 shares of the company’s stock after selling 302 shares during the quarter. EP Wealth Advisors LLC’s holdings in Airbnb were worth $282,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Colonial Trust Co SC boosted its position in shares of Airbnb by 112.0% during the 4th quarter. Colonial Trust Co SC now owns 810 shares of the company’s stock worth $106,000 after acquiring an additional 428 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Airbnb during the 4th quarter worth about $2,595,000. Captrust Financial Advisors boosted its position in shares of Airbnb by 39.1% during the 4th quarter. Captrust Financial Advisors now owns 19,480 shares of the company’s stock worth $2,560,000 after acquiring an additional 5,480 shares in the last quarter. Cardiff Park Advisors LLC boosted its position in shares of Airbnb by 3.8% during the 4th quarter. Cardiff Park Advisors LLC now owns 2,708 shares of the company’s stock worth $356,000 after acquiring an additional 100 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Airbnb during the 4th quarter worth about $501,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ABNB shares. Piper Sandler lowered their price objective on Airbnb from $145.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Benchmark decreased their target price on Airbnb from $178.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Truist Financial decreased their target price on Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a research report on Friday, March 21st. UBS Group decreased their target price on Airbnb from $160.00 to $138.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Finally, Wedbush cut Airbnb from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $150.00 to $135.00 in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong 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 $141.43.

Airbnb Stock Performance

Shares of ABNB stock opened at $138.05 on Wednesday. The company has a market cap of $87.05 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The stock has a 50 day simple moving average of $121.42 and a 200-day simple moving average of $131.21. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at $26,046,300. This trade represents a 52.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the transaction, the chief executive officer now directly owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,983,669 shares of company stock valued at $266,947,699 in the last ninety days. Corporate insiders own 27.91% of the company’s stock.

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.