Prosperity Wealth Management Inc. Has $235,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

Prosperity Wealth Management Inc. lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 54.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,725 shares of the company’s stock after selling 2,075 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Airbnb were worth $235,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. TRUE Private Wealth Advisors bought a new position in shares of Airbnb in the fourth quarter worth about $611,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Airbnb by 95.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 145,341 shares of the company’s stock valued at $19,787,000 after acquiring an additional 71,085 shares during the period. Everence Capital Management Inc. bought a new position in shares of Airbnb during the fourth quarter worth $743,000. Desjardins Global Asset Management Inc. lifted its holdings in Airbnb by 6.3% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,446 shares of the company’s stock worth $333,000 after acquiring an additional 146 shares in the last quarter. Finally, SVB Wealth LLC grew its position in shares of Airbnb by 7.5% in the 4th quarter. SVB Wealth LLC now owns 18,314 shares of the company’s stock valued at $2,493,000 after purchasing an additional 1,278 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 3,160 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $142.29, for a total value of $449,636.40. Following the completion of the transaction, the chief executive officer now directly owns 14,930,137 shares in the company, valued at approximately $2,124,409,193.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian Chesky sold 3,160 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $142.29, for a total transaction of $449,636.40. Following the transaction, the chief executive officer now owns 14,930,137 shares in the company, valued at $2,124,409,193.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 11,420 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $140.03, for a total value of $1,599,142.60. Following the completion of the transaction, the insider now owns 542,342 shares of the company’s stock, valued at approximately $75,944,150.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 490,584 shares of company stock valued at $77,302,032. 30.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ABNB shares. DA Davidson reiterated a “neutral” rating and set a $145.00 target price on shares of Airbnb in a report on Friday, March 15th. Barclays upped their target price on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, January 29th. Truist Financial lifted their price objective on shares of Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. B. Riley initiated coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price objective on the stock. Finally, Bank of America lifted their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $147.58.

Airbnb Price Performance

Airbnb stock opened at $158.37 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a market cap of $102.48 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.01 and a beta of 1.25. The company’s 50 day moving average price is $159.21 and its two-hundred day moving average price is $141.97. Airbnb, Inc. has a 52 week low of $103.55 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. On average, equities analysts predict that Airbnb, Inc. will post 4.63 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.