Arkadios Wealth Advisors Boosts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Arkadios Wealth Advisors significantly boosted its stake in Airbnb, increasing it by 88.1% to a total of 5,580 shares, valued at approximately $667,000.
• Airbnb reported $0.24 earnings per share for the most recent quarter, falling short of the $0.25 consensus estimate, but showed a 7.4% year-over-year revenue increase.
• CFO Elinor Mertz and Director Joseph Gebbia both sold significant amounts of Airbnb stock recently, indicating active insider transactions that contributed to a 1.32% and 16.67% decrease in their ownership respectively.

Arkadios Wealth Advisors raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 88.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,580 shares of the company's stock after acquiring an additional 2,613 shares during the period. Arkadios Wealth Advisors' holdings in Airbnb were worth $667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after buying an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP raised its stake in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after buying an additional 2,577,000 shares during the period. Principal Financial Group Inc. raised its stake in shares of Airbnb by 74.4% in 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 period. Assenagon Asset Management S.A. increased its position in shares of Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after acquiring an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Airbnb by 52.1% during the fourth quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after purchasing an additional 809,964 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ ABNB traded up $0.54 during mid-day trading on Wednesday, reaching $130.50. 10,951,780 shares of the stock were exchanged, compared to its average volume of 3,822,078. The business's 50 day moving average is $135.23 and its 200-day moving average is $131.17. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a market capitalization of $81.75 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.42 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly 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. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. During the same quarter in the prior year, the firm earned $0.86 EPS. Airbnb's revenue was up 12.7% on a year-over-year basis. Equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABNB. JPMorgan Chase & Co. dropped their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Cantor Fitzgerald reissued an "underweight" rating and set a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Truist Financial reissued a "sell" rating and set a $106.00 price target (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Finally, Phillip Securities downgraded Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $142.10.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on 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 transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 8,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the transaction, the chief executive officer directly owned 40,800 shares in the company, valued at approximately $5,235,864. The trade was a 16.39% 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 ninety days. Corporate insiders own 27.91% of the company's stock.

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.