Stratos Wealth Partners LTD. Decreases Stock Position in Airbnb, Inc. $ABNB

Stratos Wealth Partners LTD. lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 45.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,957 shares of the company’s stock after selling 1,606 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Airbnb were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock valued at $4,475,286,000 after purchasing an additional 604,120 shares in the last quarter. Harris Associates L P raised its position in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares in the last quarter. Northern Trust Corp raised its position in shares of Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after purchasing an additional 106,135 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $120.46, for a total value of $72,276.00. Following the completion of the transaction, the chief technology officer owned 197,806 shares of the company’s stock, valued at approximately $23,827,710.76. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $125.36, for a total value of $29,584,960.00. Following the completion of the transaction, the director directly owned 15 shares of the company’s stock, valued at approximately $1,880.40. The trade was a 99.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,425,876 shares of company stock worth $177,336,982. 27.91% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ABNB. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an “underweight” rating in a research report on Thursday, August 7th. Phillip Securities raised Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. BTIG Research reissued a “neutral” rating on shares of Airbnb in a research report on Tuesday, October 7th. KeyCorp assumed coverage on Airbnb in a research report on Thursday. They set a “sector weight” rating on the stock. Finally, Mizuho assumed coverage on Airbnb in a research report on Monday, September 29th. They set an “outperform” rating and a $151.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.70.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $127.99 on Friday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The business’s fifty day moving average price is $124.48 and its two-hundred day moving average price is $128.00. The firm has a market capitalization of $79.54 billion, a PE ratio of 30.99, a P/E/G ratio of 2.33 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.