Airbnb, Inc. $ABNB Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in Airbnb by 8.1%, now holding 25,652 shares worth approximately $3.06 million as of its latest SEC filing.
• Airbnb insiders have recently sold a significant number of shares, with Director Joseph Gebbia selling 236,000 shares for over $30.5 million, reducing his ownership by 20%.
• Wall Street analysts have mixed ratings on Airbnb, with the consensus now labeled as "Hold" and a target price of $142.72, while the stock has recently increased by 2.3% to $129.85.

Kestra Advisory Services LLC reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,652 shares of the company's stock after selling 2,253 shares during the quarter. Kestra Advisory Services LLC's holdings in Airbnb were worth $3,064,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ABNB. Park Square Financial Group LLC acquired a new position in shares of Airbnb during the 4th quarter worth about $26,000. Orion Capital Management LLC acquired a new position in shares of Airbnb during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC boosted 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 worth $29,000 after acquiring an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted 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 worth $31,000 after acquiring an additional 174 shares in the last quarter. Finally, SouthState Corp boosted its position in shares of Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after purchasing an additional 201 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the completion of the transaction, the director directly owned 944,015 shares of the company's stock, valued at approximately $122,212,181.90. This represents a 20.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly 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. In the last three months, insiders sold 1,445,355 shares of company stock valued at $192,533,558. Corporate insiders own 27.91% of the company's stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of research analyst reports. Wedbush decreased their target price on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. DA Davidson raised Airbnb from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, BMO Capital Markets set a $124.00 price objective on Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and a consensus price target of $142.72.

Airbnb Stock Up 2.3%

ABNB opened at $129.85 on Thursday. The business has a 50 day moving average price of $132.26 and a two-hundred day moving average price of $130.47. The company has a market cap of $80.69 billion, a PE ratio of 31.44, a P/E/G ratio of 2.32 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

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

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.

Want to see what other hedge funds are holding ABNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Airbnb, Inc. (NASDAQ:ABNB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.