Envestnet Portfolio Solutions Inc. Sells 4,783 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Envestnet Portfolio Solutions Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,890 shares of the company's stock after selling 4,783 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Airbnb were worth $2,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in Airbnb during the 4th quarter worth about $1,445,000. Ritholtz Wealth Management lifted its position in shares of Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after purchasing an additional 484 shares in the last quarter. EFG Asset Management Americas Corp. bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $4,406,000. Jones Financial Companies Lllp grew its stake in shares of Airbnb by 43.0% during the fourth quarter. Jones Financial Companies Lllp now owns 7,166 shares of the company's stock valued at $942,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Airbnb by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock valued at $6,115,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $131.73 on Monday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The stock has a market cap of $82.52 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.47 and a beta of 1.14. The firm's 50-day moving average is $128.10 and its 200-day moving average is $130.54.

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

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 2,245 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total value of $300,897.35. Following the transaction, the insider now directly owns 188,173 shares of the company's stock, valued at $25,220,827.19. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business'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 value of $32,898,400.00. Following the sale, the director now owns 1,180,015 shares of the company's stock, valued at approximately $164,494,091. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,624,472 shares of company stock valued at $203,509,100 over the last ninety days. 27.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ABNB shares. Robert W. Baird lowered their target price on Airbnb from $175.00 to $160.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. UBS Group lowered their price objective on Airbnb from $160.00 to $138.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Barclays dropped their price objective on Airbnb from $120.00 to $103.00 and set an "underweight" rating for the company in a report on Friday, May 2nd. Truist Financial reaffirmed a "sell" rating and issued a $106.00 target price (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Finally, Susquehanna dropped their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $141.23.

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.

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