Encompass Wealth Advisors LLC Cuts Position in Airbnb, Inc. (NASDAQ:ABNB)

Encompass Wealth Advisors LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,701 shares of the company's stock after selling 9,631 shares during the quarter. Airbnb makes up 2.8% of Encompass Wealth Advisors LLC's portfolio, making the stock its 9th biggest position. Encompass Wealth Advisors LLC's holdings in Airbnb were worth $6,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Airbnb during the fourth quarter valued at $433,374,000. Clearbridge Investments LLC raised its position in shares of Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after purchasing an additional 2,577,000 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after purchasing an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock valued at $310,896,000 after purchasing an additional 809,964 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 38,459 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total transaction of $4,632,001.96. Following the completion of the transaction, the chief executive officer now directly owns 11,731,685 shares in the company, valued at approximately $1,412,964,141.40. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 now owns 1,180,015 shares of the company's stock, valued at $164,494,091. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,410,087 shares of company stock valued at $175,773,584. Insiders own 27.83% of the company's stock.

Airbnb Price Performance

Shares of ABNB stock traded up $1.62 during mid-day trading on Tuesday, hitting $132.15. The company had a trading volume of 5,042,695 shares, compared to its average volume of 5,028,618. The stock's 50 day moving average price is $128.80 and its 200-day moving average price is $130.50. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market capitalization of $82.78 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.44 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABNB. DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and cut their price target for the company from $170.00 to $155.00 in a report on Wednesday, April 30th. Citigroup cut their target price on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Canaccord Genuity Group decreased their price target on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, April 28th. B. Riley lowered their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, BTIG Research reiterated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $141.23.

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.