Kovitz Investment Group Partners LLC Reduces Position in Airbnb, Inc. $ABNB

Kovitz Investment Group Partners LLC decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 69.7% during the 4th quarter, HoldingsChannel reports. The fund owned 21,703 shares of the company’s stock after selling 49,873 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Airbnb were worth $2,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van Diest Capital LLC acquired a new stake in Airbnb during the 4th quarter valued at approximately $402,000. Compound Planning Inc. raised its position in shares of Airbnb by 5.1% in the 4th quarter. Compound Planning Inc. now owns 7,335 shares of the company’s stock valued at $996,000 after purchasing an additional 358 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Airbnb by 4.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 26,038 shares of the company’s stock valued at $3,534,000 after purchasing an additional 1,062 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Airbnb by 469.5% during the 4th quarter. Corient Private Wealth LLC now owns 246,896 shares of the company’s stock valued at $33,509,000 after buying an additional 203,543 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Airbnb by 67.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 103,916 shares of the company’s stock valued at $14,103,000 after buying an additional 41,759 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ABNB shares. Tigress Financial dropped their price target on shares of Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Needham & Company LLC started coverage on shares of Airbnb in a research note on Monday, May 4th. They set a “buy” rating on the stock. Wedbush upgraded shares of Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. DA Davidson raised their price objective on shares of Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $157.96.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 265,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $135.45, for a total value of $35,894,250.00. Following the sale, the director directly owned 3,182,355 shares of the company’s stock, valued at $431,049,984.75. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Chesky sold 265,746 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total value of $35,136,936.12. Following the completion of the sale, the chief executive officer owned 11,206,389 shares in the company, valued at $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,972,860 shares of company stock worth $267,555,449 in the last 90 days. 27.21% of the stock is currently owned by company insiders.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $142.41 on Friday. The company has a market cap of $85.83 billion, a PE ratio of 35.08, a P/E/G ratio of 1.53 and a beta of 1.16. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $147.25. The firm has a 50-day simple moving average of $136.36 and a 200 day simple moving average of $132.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last issued 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). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.91 EPS for the current year.

About Airbnb

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.