Kovack Advisors Inc. Cuts Position in Airbnb, Inc. (NASDAQ:ABNB)

Kovack Advisors Inc. reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 20.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,026 shares of the company’s stock after selling 1,328 shares during the period. Kovack Advisors Inc.’s holdings in Airbnb were worth $829,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. CVA Family Office LLC purchased a new stake in Airbnb during the 4th quarter worth $26,000. Trust Co. of Vermont purchased a new position in Airbnb in the fourth quarter valued at about $27,000. Orion Capital Management LLC acquired a new position in shares of Airbnb during the third quarter worth about $27,000. Bfsg LLC purchased a new stake in shares of Airbnb in the fourth quarter worth about $27,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Airbnb in the first quarter worth about $33,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABNB shares. B. Riley Financial initiated coverage on Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research note on Thursday, May 9th. Bank of America lifted their price target on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Wedbush raised shares of Airbnb from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $165.00 in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. boosted their price target on Airbnb from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Four investment 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 an average rating of “Hold” and a consensus price target of $152.38.

Airbnb Stock Performance

Shares of ABNB stock opened at $152.73 on Friday. The company has a market cap of $98.36 billion, a P/E ratio of 20.45, a PEG ratio of 1.91 and a beta of 1.18. The business has a 50 day moving average of $149.79 and a two-hundred day moving average of $151.13. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. As a group, analysts anticipate that Airbnb, Inc. will post 4.65 EPS for the current year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $151.29, for a total transaction of $90,774.00. Following the completion of the transaction, the chief technology officer now owns 208,774 shares in the company, valued at $31,585,418.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $150.02, for a total transaction of $1,745,482.70. Following the sale, the director now owns 30,435 shares of the company’s stock, valued at approximately $4,565,858.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $151.29, for a total value of $90,774.00. Following the completion of the transaction, the chief technology officer now directly owns 208,774 shares of the company’s stock, valued at approximately $31,585,418.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,922 shares of company stock worth $62,811,386. 27.83% of the stock is owned by insiders.

Airbnb Company Profile

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.