Airbnb, Inc. $ABNB Shares Sold by Focus Partners Wealth

Key Points

• Focus Partners Wealth reduced its holdings in Airbnb, Inc. by 75.5% during Q1, owning 38,867 shares worth $4.64 million after selling 119,969 shares.
• Several institutional investors, including Vanguard Group and Harris Associates, increased their positions in Airbnb during the same period, reflecting significant interest in the stock.
• Airbnb's latest earnings report showed EPS of $1.03, beating estimates and revealing a 12.7% overall revenue growth year-over-year.

Focus Partners Wealth decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 75.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,867 shares of the company's stock after selling 119,969 shares during the quarter. Focus Partners Wealth's holdings in Airbnb were worth $4,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after purchasing an additional 604,120 shares during the last quarter. Harris Associates L P grew its position in Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after acquiring an additional 106,135 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock worth $500,755,000 after acquiring an additional 1,916,676 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

Shares of ABNB opened at $122.55 on Monday. The firm has a market cap of $76.16 billion, a P/E ratio of 29.67, a P/E/G ratio of 2.24 and a beta of 1.13. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock has a 50 day simple moving average of $130.46 and a two-hundred day simple moving average of $128.42.

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

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the transaction, the chief technology officer owned 202,006 shares in the company, valued at approximately $25,242,669.76. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,326 shares of company stock valued at $188,798,155 over the last three months. Insiders own 27.83% of the company's stock.

Wall Street Analyst Weigh In

ABNB has been the subject of several analyst reports. UBS Group lowered their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Zacks Research raised shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Airbnb presently has a consensus rating of "Hold" and an average price target of $141.68.

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.

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