Airbnb, Inc. $ABNB Stock: Curated Wealth Partners LLC Cuts Holdings

Key Points

• Curated Wealth Partners slashed its Airbnb stake by 97.1% in the third quarter, selling 349,407 shares and retaining 10,332 shares worth approximately $1.66 million. Institutional investors and hedge funds collectively own 80.76% of Airbnb.
• Airbnb reported quarterly revenue of $3.61 billion and earnings of $1.37 per share, exceeding analyst estimates, while revenue increased 16.3% year over year. Shares recently traded at $172.63, up 3.3%.
• Analysts maintain a generally positive outlook, with Airbnb receiving a consensus “Moderate Buy” rating and an average price target of $181.93. However, insiders sold more than 1.56 million shares worth roughly $271.1 million over the past three months.

Curated Wealth Partners LLC lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 97.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,332 shares of the company's stock after selling 349,407 shares during the quarter. Curated Wealth Partners LLC's holdings in Airbnb were worth $1,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. Jennison Associates LLC grew its stake in shares of Airbnb by 9,331.0% during the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company's stock worth $400,681,000 after purchasing an additional 3,139,315 shares during the period. Wellington Management Group LLP boosted its position in Airbnb by 80.6% during the second quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company's stock worth $827,929,000 after acquiring an additional 2,581,539 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Airbnb in the second quarter valued at $330,085,000. MKA Charitable Fund acquired a new stake in Airbnb during the second quarter worth about $232,515,606. Finally, Independent Franchise Partners LLP lifted its stake in shares of Airbnb by 23.6% in the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company's stock valued at $698,452,000 after purchasing an additional 981,624 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Up 3.3%

Shares of NASDAQ:ABNB traded up $5.57 during trading on Thursday, reaching $172.63. 2,105,876 shares of the company traded hands, compared to its average volume of 4,301,177. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $193.45. The firm has a fifty day simple moving average of $172.51 and a 200 day simple moving average of $150.75. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm has a market cap of $103.37 billion, a P/E ratio of 39.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm's revenue was up 16.3% on a year-over-year basis. Analysts anticipate that Airbnb, Inc. will post 5.28 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 531,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the transaction, the insider owned 171,370 shares in the company, valued at approximately $29,888,641.70. The trade was a 75.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 200,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $174.79, for a total value of $34,958,000.00. Following the sale, the chief executive officer owned 10,501,685 shares in the company, valued at approximately $1,835,589,521.15. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,562,961 shares of company stock worth $271,146,941 over the last three months. 27.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABNB. JPMorgan Chase & Co. increased their target price on Airbnb from $140.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. DA Davidson boosted their price objective on Airbnb from $175.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, August 31st. HSBC increased their price objective on shares of Airbnb from $162.00 to $177.00 and gave the company a "buy" rating in a report on Friday, August 7th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Airbnb in a research report on Monday. Finally, Robert W. Baird lifted their price objective on shares of Airbnb from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Airbnb presently has a consensus rating of "Moderate Buy" and an average target price of $181.93.

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel-related experiences with hosts offering homes, apartments, rooms and other lodging options. The company's platform supports booking and managing stays in a wide range of destinations, from major cities to rural and resort areas.

In addition to accommodations, Airbnb offers experiences hosted by local residents, including activities, tours and cultural events. The company has also expanded its platform to include services in select markets, such as offerings related to hospitality, wellness, food and other travel needs.

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