Beacon Pointe Advisors LLC Has $3.02 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Beacon Pointe Advisors LLC reduced its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 58.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,988 shares of the company's stock after selling 32,298 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Airbnb were worth $3,021,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Airbnb during the fourth quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new position in shares of Airbnb in the fourth quarter valued at approximately $26,000. Graney & King LLC acquired a new stake in Airbnb during the 4th quarter valued at $32,000. Whipplewood Advisors LLC acquired a new position in Airbnb in the fourth quarter worth $44,000. Finally, Cromwell Holdings LLC increased its stake in shares of Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company's stock valued at $49,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Down 1.2 %

Shares of Airbnb stock traded down $1.53 on Tuesday, reaching $123.36. 1,202,339 shares of the company were exchanged, compared to its average volume of 4,885,961. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $122.77 and a 200 day moving average of $131.44. The company has a market capitalization of $77.78 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company posted $0.41 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABNB. Evercore ISI cut their price target on Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research note on Friday. UBS Group dropped their target price on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company raised their price target on Airbnb from $100.00 to $104.00 and gave the stock an "underweight" rating in a research report on Friday. DA Davidson raised Airbnb from a "neutral" rating to a "buy" rating and cut their target price for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their target price on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $142.31.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 230,772 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the transaction, the chief executive officer now directly owns 12,000,913 shares of the company's stock, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $123.28, for a total transaction of $86,296.00. Following the transaction, the chief technology officer now directly owns 221,422 shares in the company, valued at approximately $27,296,904.16. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,953,435 shares of company stock worth $266,592,685. Company insiders own 27.83% of the company's stock.

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.