Atria Investments Inc Cuts Stake in Airbnb, Inc. $ABNB

Key Points

• Atria Investments Inc. cut its Airbnb stake by 14.2% in the fourth quarter, selling 7,895 shares and ending with 47,677 shares valued at about $6.47 million.
• Insider selling has been notable, with CFO Elinor Mertz and insider Nathan Blecharczyk both reducing holdings; over the last 90 days, insiders sold 459,838 shares worth about $62.2 million.
• Analysts remain cautiously positive on ABNB, with a consensus rating of “Moderate Buy” and an average price target of $157.67, even after Airbnb reported Q1 EPS of $0.26, below estimates, on revenue that rose 17.9% year over year.

Atria Investments Inc lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,677 shares of the company's stock after selling 7,895 shares during the period. Atria Investments Inc's holdings in Airbnb were worth $6,471,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Airbnb by 1.7% during the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company's stock valued at $4,649,814,000 after buying an additional 649,323 shares during the period. Harris Associates L P increased its stake in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company's stock valued at $1,884,168,000 after buying an additional 4,292,383 shares during the period. AQR Capital Management LLC increased its stake in shares of Airbnb by 58.6% during the third quarter. AQR Capital Management LLC now owns 4,269,937 shares of the company's stock valued at $518,456,000 after buying an additional 1,577,338 shares during the period. Independent Franchise Partners LLP purchased a new position in shares of Airbnb during the third quarter valued at $505,672,000. Finally, Akre Capital Management LLC increased its stake in shares of Airbnb by 19.0% during the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company's stock valued at $459,649,000 after buying an additional 555,510 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 3,750 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $143.00, for a total transaction of $536,250.00. Following the sale, the chief financial officer owned 463,415 shares in the company, valued at approximately $66,268,345. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 627 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $145.67, for a total value of $91,335.09. Following the sale, the insider owned 11,920 shares in the company, valued at $1,736,386.40. The trade was a 5.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 459,838 shares of company stock worth $62,185,245. Insiders own 27.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ABNB. Wells Fargo & Company raised their price target on Airbnb from $178.00 to $181.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Citigroup reiterated an "outperform" rating on shares of Airbnb in a research note on Friday, May 8th. Barclays lifted their target price on Airbnb from $122.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Airbnb from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Finally, Robert W. Baird set a $150.00 target price on Airbnb in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.67.

Airbnb Price Performance

ABNB opened at $132.85 on Friday. The business's 50-day moving average is $133.56 and its two-hundred day moving average is $129.61. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $147.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $80.07 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.43 and a beta of 1.20.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter last year, the firm earned $0.24 EPS. Airbnb's revenue for the quarter was up 17.9% on a year-over-year basis. Research analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

About Airbnb

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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