Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 29,768 shares of the company’s stock after selling 1,003 shares during the quarter. Portside Wealth Group LLC’s holdings in Airbnb were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ABNB. Norges Bank acquired a new position in shares of Airbnb in the 4th quarter valued at $433,374,000. Clearbridge Investments LLC lifted its stake in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the period. Two Sigma Advisers LP increased its holdings in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock worth $404,782,000 after acquiring an additional 2,577,000 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after acquiring an additional 1,185,892 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Airbnb by 52.1% in the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock worth $310,896,000 after acquiring an additional 809,964 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ABNB. Hsbc Global Res raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Wednesday, May 14th. Wedbush lowered shares of Airbnb from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Evercore ISI cut their price target on shares of Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, HSBC raised shares of Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $141.23.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 2,245 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total transaction of $300,897.35. Following the sale, the insider now owns 188,173 shares of the company’s stock, valued at approximately $25,220,827.19. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $132.52, for a total transaction of $28,397,048.20. Following the sale, the director now directly owns 1,652,015 shares in the company, valued at $218,925,027.80. This represents a 11.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,642,018 shares of company stock valued at $202,748,249 over the last 90 days. 27.91% of the stock is owned by insiders.

Airbnb Trading Up 2.4%

NASDAQ ABNB opened at $140.64 on Monday. The firm’s 50-day moving average is $123.61 and its two-hundred day moving average is $130.71. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $88.10 billion, a P/E ratio of 34.05, a PEG ratio of 3.52 and a beta of 1.14.

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