Calamos Wealth Management LLC Sells 382,371 Shares of Airbnb, Inc. $ABNB

Calamos Wealth Management LLC reduced its stake in Airbnb, Inc. (NASDAQ:ABNB) by 79.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 101,534 shares of the company’s stock after selling 382,371 shares during the quarter. Calamos Wealth Management LLC’s holdings in Airbnb were worth $12,822,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Airbnb by 104.1% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,832 shares of the company’s stock valued at $863,000 after purchasing an additional 3,485 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Airbnb by 27.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 31,043 shares of the company’s stock worth $3,920,000 after buying an additional 6,639 shares during the period. Procyon Advisors LLC boosted its holdings in shares of Airbnb by 63.6% during the 1st quarter. Procyon Advisors LLC now owns 15,142 shares of the company’s stock worth $1,912,000 after buying an additional 5,888 shares during the period. LGT Fund Management Co Ltd. acquired a new position in Airbnb in the 1st quarter valued at $4,685,000. Finally, Global Assets Advisory LLC acquired a new position in Airbnb in the 1st quarter valued at $38,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $146.33 on Tuesday. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $150.19. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a market cap of $88.19 billion, a P/E ratio of 36.04, a PEG ratio of 1.59 and a beta of 1.14. The company’s 50-day simple moving average is $138.59 and its 200 day simple moving average is $134.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly 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). The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 294,903 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total value of $43,772,452.29. Following the sale, the director directly owned 2,622,452 shares in the company, valued at $389,250,550.36. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the transaction, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. This represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,325,429 shares of company stock worth $321,925,435 in the last 90 days. 27.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on shares of Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Needham & Company LLC started coverage on shares of Airbnb in a report on Monday, May 4th. They set a “buy” rating for the company. CICC Research started coverage on Airbnb in a research report on Friday, June 5th. They issued an “outperform” rating and a $165.00 price target on the stock. Rodman & Renshaw started coverage on Airbnb in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Airbnb presently has an average rating of “Moderate Buy” and an average target price of $158.36.

Airbnb Company 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.