Kestra Advisory Services LLC Sells 7,341 Shares of Airbnb, Inc. $ABNB

Kestra Advisory Services LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 40.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,779 shares of the company’s stock after selling 7,341 shares during the period. Kestra Advisory Services LLC’s holdings in Airbnb were worth $1,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Merit Financial Group LLC grew its position in Airbnb by 72.1% during the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock worth $4,478,000 after buying an additional 13,818 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of Airbnb during the 4th quarter valued at about $2,785,000. North Star Asset Management Inc. boosted its position in shares of Airbnb by 13.4% during the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock valued at $10,663,000 after acquiring an additional 9,294 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Airbnb by 18.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock worth $30,305,000 after purchasing an additional 34,573 shares in the last quarter. Finally, Oxbow Advisors LLC grew its holdings in shares of Airbnb by 122.9% during the fourth quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock worth $6,842,000 after purchasing an additional 27,793 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other news, Director Kenneth I. Chenault sold 8,346 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the sale, the director owned 40,879 shares of the company’s stock, valued at approximately $6,131,850. This represents a 16.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathan Blecharczyk sold 13,615 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the transaction, the insider directly owned 81,677 shares in the company, valued at approximately $12,118,416.49. This represents a 14.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,231,864 shares of company stock valued at $308,474,278. Insiders own 27.21% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of several research analyst reports. HC Wainwright upgraded shares of Airbnb to a “buy” rating in a research report on Monday, May 4th. Truist Financial lifted their target price on shares of Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Benchmark boosted their price target on shares of Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Tigress Financial decreased their price target on shares of Airbnb from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Finally, Susquehanna raised their price objective on shares of Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

Airbnb Price Performance

Shares of Airbnb stock opened at $144.10 on Wednesday. The firm has a market capitalization of $86.85 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $150.88. The business’s 50-day moving average price is $139.46 and its 200-day moving average price is $134.52.

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

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.