Atria Investments Inc Cuts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Atria Investments Inc reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 39,638 shares of the company’s stock after selling 2,874 shares during the period. Atria Investments Inc’s holdings in Airbnb were worth $5,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Transcendent Capital Group LLC acquired a new position in Airbnb in the 1st quarter worth about $25,000. New Millennium Group LLC acquired a new position in shares of Airbnb during the 2nd quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new position in shares of Airbnb during the 1st quarter valued at approximately $33,000. Cultivar Capital Inc. acquired a new stake in Airbnb in the 2nd quarter valued at $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Airbnb in the 3rd quarter worth $25,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

Airbnb stock opened at $133.20 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $85.46 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15. The company’s 50 day simple moving average is $129.54 and its 200-day simple moving average is $137.20. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 33.36% and a net margin of 16.96%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $2.39 earnings per share. As a group, equities research analysts expect that Airbnb, Inc. will post 4.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on ABNB shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets reduced their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.31.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares in the company, valued at approximately $2,259,958.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 417,806 shares of company stock worth $51,809,831 in the last three months. 27.83% of the stock is owned by company insiders.

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.