Atria Wealth Solutions Inc. Cuts Holdings in Airbnb, Inc. $ABNB

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Airbnb, Inc. by 41.0% in the second quarter, now holding 9,909 shares valued at $1,335,000 according to its latest SEC filing.
• Institutional investors collectively own 80.76% of Airbnb's stock, with several notable investments, including Vanguard Group Inc. and Harris Associates L P increasing their stakes significantly in Q1.
• Airbnb's stock ratings vary, with three analysts rating it as a Strong Buy, while the consensus rating is "Hold" with a target price of $141.81.

Atria Wealth Solutions Inc. lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 41.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,909 shares of the company's stock after selling 6,879 shares during the period. Atria Wealth Solutions Inc.'s holdings in Airbnb were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Airbnb by 1.6% during the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after purchasing an additional 604,120 shares in the last quarter. Harris Associates L P increased its stake in shares of Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares in the last quarter. Northern Trust Corp increased its stake in shares of Airbnb by 2.5% during the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after purchasing an additional 106,135 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Airbnb by 81.0% during the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock worth $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABNB. Zacks Research upgraded shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. Mizuho began coverage on shares of Airbnb in a research report on Monday, September 29th. They set an "outperform" rating and a $151.00 price target on the stock. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Barclays set a $105.00 price target on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $141.81.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $119.22, for a total value of $28,135,920.00. Following the sale, the director directly owned 704,015 shares of the company's stock, valued at approximately $83,932,668.30. The trade was a 25.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares in the company, valued at $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,666,876 shares of company stock valued at $210,819,940 over the last 90 days. Insiders own 27.91% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $122.89 on Friday. The firm has a market capitalization of $76.37 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.27 and a beta of 1.10. The company's 50-day moving average is $123.89 and its two-hundred day moving average is $127.24. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year 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, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. Airbnb's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share 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.