Chicago Partners Investment Group LLC Sells 4,286 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Chicago Partners Investment Group LLC reduced its stake in Airbnb, Inc. by 29.7%, selling 4,286 shares and holding 10,126 shares worth $1,247,000 after the transaction.
• Insider trading activity includes CEO Brian Chesky selling 8,000 shares and Director Joseph Gebbia selling 236,000 shares, both representing significant percentage decreases in their holdings.
• Airbnb reported earnings per share of $1.03, exceeding analyst expectations, with revenue of $3.10 billion and a projected EPS of 4.31 for the current fiscal year.

Chicago Partners Investment Group LLC lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 29.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,126 shares of the company's stock after selling 4,286 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Airbnb were worth $1,247,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABNB. DRW Securities LLC purchased a new stake in shares of Airbnb during the fourth quarter valued at $257,000. Colonial Trust Advisors lifted its holdings in shares of Airbnb by 652.2% during the fourth quarter. Colonial Trust Advisors now owns 519 shares of the company's stock valued at $68,000 after purchasing an additional 450 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Airbnb by 13.1% during the fourth quarter. Neuberger Berman Group LLC now owns 10,379 shares of the company's stock valued at $1,364,000 after purchasing an additional 1,203 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Airbnb by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 192,277 shares of the company's stock valued at $25,267,000 after purchasing an additional 1,210 shares during the last quarter. Finally, DRH Investments Inc. purchased a new stake in shares of Airbnb during the fourth quarter valued at $8,423,000. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

Shares of Airbnb stock traded up $3.31 during midday trading on Tuesday, hitting $121.61. 6,105,673 shares of the company were exchanged, compared to its average volume of 5,334,185. The firm has a market cap of $76.18 billion, a P/E ratio of 29.45, a PEG ratio of 2.19 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a 50 day simple moving average of $134.73 and a 200-day simple moving average of $130.89.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. Airbnb's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. Equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the transaction, the director owned 1,180,015 shares in the company, valued at $164,494,091. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was 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 of the company's stock, valued at $5,235,864. This trade represents a 16.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock worth $223,195,427 in the last 90 days. 27.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday, July 16th. Susquehanna reduced their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company set a $110.00 price objective on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Piper Sandler reduced their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $142.72.

Airbnb 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.