NewEdge Wealth LLC Sells 1,573 Shares of Airbnb, Inc. (NASDAQ:ABNB)

NewEdge Wealth LLC decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,732 shares of the company’s stock after selling 1,573 shares during the quarter. NewEdge Wealth LLC’s holdings in Airbnb were worth $1,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clarius Group LLC bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $248,000. Tennessee Valley Asset Management Partners bought a new stake in Airbnb during the fourth quarter worth $59,000. Perigon Wealth Management LLC grew its holdings in Airbnb by 15.8% during the fourth quarter. Perigon Wealth Management LLC now owns 2,941 shares of the company’s stock worth $400,000 after buying an additional 401 shares in the last quarter. New World Advisors LLC grew its holdings in Airbnb by 2.6% during the fourth quarter. New World Advisors LLC now owns 3,256 shares of the company’s stock worth $443,000 after buying an additional 82 shares in the last quarter. Finally, Helios Capital Management PTE. Ltd. bought a new stake in Airbnb during the fourth quarter worth $1,280,000. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In other news, CEO Brian Chesky sold 82,033 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $134.55, for a total transaction of $11,037,540.15. Following the transaction, the chief executive officer now directly owns 14,937,647 shares in the company, valued at approximately $2,009,860,403.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Aristotle N. Balogh sold 2,750 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $136.00, for a total transaction of $374,000.00. Following the completion of the sale, the chief technology officer now directly owns 151,146 shares in the company, valued at approximately $20,555,856. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chesky sold 82,033 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $134.55, for a total value of $11,037,540.15. Following the sale, the chief executive officer now owns 14,937,647 shares of the company’s stock, valued at $2,009,860,403.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 615,367 shares of company stock worth $94,049,172. 30.84% of the stock is currently owned by insiders.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $159.37 on Monday. The firm has a market capitalization of $103.12 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.04 and a beta of 1.25. 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’s 50-day simple moving average is $158.53 and its two-hundred day simple moving average is $141.58. Airbnb, Inc. has a twelve month low of $103.55 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABNB. Bank of America upped their price target on Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. B. Riley Financial began coverage on Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target for the company. Barclays upped their price target on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, January 29th. Susquehanna upped their price target on Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, February 14th. Finally, Benchmark began coverage on Airbnb in a research report on Thursday. They issued a “buy” rating and a $190.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $147.58.

About Airbnb

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.