First Trust Advisors LP Sells 102,848 Shares of Airbnb, Inc. $ABNB

First Trust Advisors LP trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 5.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,718,116 shares of the company’s stock after selling 102,848 shares during the period. First Trust Advisors LP’s holdings in Airbnb were worth $216,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI raised its stake in Airbnb by 1.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after purchasing an additional 76 shares during the period. Patton Fund Management Inc. lifted its holdings in Airbnb by 4.3% in the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock worth $254,000 after purchasing an additional 77 shares in the last quarter. BOKF NA boosted its stake in Airbnb by 11.0% in the 4th quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after purchasing an additional 78 shares during the period. Yoder Wealth Management Inc. boosted its stake in Airbnb by 0.3% in the 4th quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock worth $3,582,000 after purchasing an additional 84 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Airbnb by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock worth $1,007,000 after purchasing an additional 86 shares during the period. Institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABNB. Wells Fargo & Company lifted their price objective on shares of Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wedbush assumed coverage on shares of Airbnb in a research report on Thursday, July 16th. They set a “neutral” rating and a $152.00 target price for the company. B. Riley Financial reaffirmed a “buy” rating on shares of Airbnb in a research note on Friday, May 8th. The Goldman Sachs Group set a $155.00 target price on shares of Airbnb in a research note on Monday. Finally, Needham & Company LLC assumed coverage on shares of Airbnb in a report on Monday, May 4th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Airbnb has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 2,460 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $150.00, for a total value of $369,000.00. Following the completion of the sale, the director directly owned 2,595,119 shares of the company’s stock, valued at $389,267,850. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.37, for a total value of $2,020,057.55. Following the completion of the transaction, the insider owned 81,677 shares of the company’s stock, valued at approximately $12,118,416.49. This trade represents a 14.29% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is currently owned by company insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $140.05 on Thursday. The company has a market cap of $84.41 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 1.54 and a beta of 1.14. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $150.88. The stock’s 50 day simple moving average is $139.60 and its two-hundred day simple moving average is $134.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.92 earnings per share for the current fiscal year.

Airbnb Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.