Atria Wealth Solutions Inc. Has $2.01 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Airbnb, Inc. by 15% during the first quarter, now holding 16,788 shares valued at approximately $2 million.
• Several institutional investors, including Park Square Financial Group and Orion Capital Management, made new investments or increased their positions in Airbnb during the fourth quarter.
• Analysts have downgraded their price targets for Airbnb, with Piper Sandler lowering it from $145 to $132 and Morgan Stanley from $130 to $120, reflecting a cautious outlook on the stock.

Atria Wealth Solutions Inc. reduced its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,788 shares of the company's stock after selling 2,962 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Airbnb were worth $2,005,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the transaction, the chief technology officer directly owned 209,777 shares in the company, valued at $29,240,816.03. This trade represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,671,023 shares of company stock worth $223,195,427 over the last three months. Company insiders own 27.83% of the company's stock.

Airbnb Stock Up 2.8%

Shares of ABNB traded up $3.31 during mid-day trading on Tuesday, reaching $121.61. The company's stock had a trading volume of 6,278,882 shares, compared to its average volume of 5,029,082. The business has a fifty day moving average of $134.73 and a 200 day moving average of $130.89. The company has a market cap of $76.18 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. 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 released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. The company 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 quarter in the prior year, the company earned $0.86 earnings per share. On average, analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of recent analyst reports. Evercore ISI decreased their price objective on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group decreased their price objective on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. Barclays set a $105.00 price objective on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada increased their price objective on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $142.72.

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.