Ritholtz Wealth Management Trims Stake in Airbnb, Inc. (NASDAQ:ABNB)

Ritholtz Wealth Management cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 21.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,868 shares of the company’s stock after selling 1,324 shares during the period. Ritholtz Wealth Management’s holdings in Airbnb were worth $617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Joel Isaacson & Co. LLC raised its holdings in Airbnb by 2.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after purchasing an additional 67 shares during the period. Miracle Mile Advisors LLC increased its position in Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after buying an additional 68 shares in the last quarter. Farrow Financial Inc. raised its stake in shares of Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after buying an additional 69 shares during the period. Heritage Wealth Advisors lifted its position in shares of Airbnb by 55.0% during the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Finally, GYL Financial Synergies LLC grew its stake in shares of Airbnb by 5.0% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after acquiring an additional 76 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 1.1 %

Shares of NASDAQ ABNB opened at $133.27 on Wednesday. The company has a market cap of $85.83 billion, a P/E ratio of 17.84, a PEG ratio of 1.83 and a beta of 1.17. The firm has a 50-day simple moving average of $121.87 and a two-hundred day simple moving average of $140.34. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Airbnb’s revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that Airbnb, Inc. will post 4.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ABNB shares. Wedbush decreased their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley lifted their target price on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. BMO Capital Markets cut their price target on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Barclays lowered their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler cut their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $134.55.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $130.15, for a total transaction of $78,090.00. Following the completion of the sale, the chief technology officer now owns 194,044 shares in the company, valued at $25,254,826.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $128.42, for a total transaction of $802,625.00. Following the transaction, the chief financial officer now owns 530,822 shares of the company’s stock, valued at approximately $68,168,161.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $130.15, for a total value of $78,090.00. Following the completion of the sale, the chief technology officer now owns 194,044 shares of the company’s stock, valued at $25,254,826.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 561,896 shares of company stock worth $74,027,852. Insiders own 27.83% of the company’s stock.

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.