Annis Gardner Whiting Capital Advisors LLC Sells 2,490 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Annis Gardner Whiting Capital Advisors LLC drastically reduced its stake in Airbnb, Inc. by 80%, selling 2,490 shares, leaving them with only 623 shares valued at approximately $74,000.
• Several hedge funds, including Ritholtz Wealth Management and Wealth Enhancement Advisory Services LLC, increased their positions in Airbnb during the first quarter, indicating ongoing interest among institutional investors.
• Analyst ratings for Airbnb are mixed, with five analysts issuing a sell rating and a consensus rating of "Hold," reflecting a wide range of investment perspectives on the stock's future performance.

Annis Gardner Whiting Capital Advisors LLC lessened its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 80.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 623 shares of the company's stock after selling 2,490 shares during the period. Annis Gardner Whiting Capital Advisors LLC's holdings in Airbnb were worth $74,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABNB. Park Square Financial Group LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $28,000. Stonebridge Financial Group LLC lifted its holdings in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, BankPlus Trust Department acquired a new position in shares of Airbnb in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity

In related news, CEO Brian Chesky sold 8,000 shares of Airbnb stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares in the company, valued at $5,235,864. This trade represents a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the sale, the director owned 1,180,015 shares of the company's stock, valued at $164,494,091. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,671,023 shares of company stock valued at $223,195,427 over the last 90 days. 27.91% of the stock is currently owned by company insiders.

Airbnb Stock Performance

Shares of ABNB traded up $0.99 during trading hours on Friday, hitting $121.02. 5,785,507 shares of the company were exchanged, compared to its average volume of 4,795,555. The company has a market cap of $75.81 billion, a PE ratio of 29.30, a PEG ratio of 2.22 and a beta of 1.13. The firm's 50 day moving average is $134.96 and its 200-day moving average is $130.98. 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 posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. As a group, equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABNB shares. B. Riley cut their price objective on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Citigroup cut their price target on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. DA Davidson raised shares of Airbnb from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $170.00 to $155.00 in a research note on Wednesday, April 30th. Phillip Securities downgraded shares of Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of "Hold" and a consensus target price of $143.59.

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.