Airbnb, Inc. $ABNB Shares Sold by Elevate Capital Advisors LLC

Key Points

• Elevate Capital Advisors LLC reduced its stake in Airbnb, Inc. by 17.5%, owning 12,934 shares now worth approximately $1.71 million.
• Various institutional investors have recently adjusted their holdings, with 80.76% of the stock currently owned by institutional investors and hedge funds.
• Analysts have mixed ratings for Airbnb, with an average target price of $141.81 and a breakdown of ratings ranging from "Strong Buy" to "Sell".

Elevate Capital Advisors LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 17.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,934 shares of the company's stock after selling 2,747 shares during the period. Elevate Capital Advisors LLC's holdings in Airbnb were worth $1,712,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kentucky Trust Co acquired a new stake in shares of Airbnb during the 2nd quarter valued at about $25,000. Stonebridge Financial Group LLC grew its position in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Armstrong Advisory Group Inc. grew its position in shares of Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 200 shares during the period. Bartlett & CO. Wealth Management LLC grew its position in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the period. Finally, SouthState Corp grew its position in shares of Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after acquiring an additional 201 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABNB shares. BNP Paribas raised shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Jefferies Financial Group decreased their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Zacks Research raised shares of Airbnb to a "hold" rating in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Airbnb in a research note on Saturday, September 27th. Finally, BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of "Hold" and an average target price of $141.81.

Airbnb Price Performance

ABNB opened at $120.22 on Friday. The company's 50 day simple moving average is $125.86 and its two-hundred day simple moving average is $127.57. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market capitalization of $74.71 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the company posted $0.86 EPS. The business's revenue was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares in the company, valued at approximately $6,051,898. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,673,726 shares of company stock valued at $215,816,143 in the last ninety days. 27.91% of the stock is currently owned by corporate 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.

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