Kaufman Rossin Wealth LLC Has $230,000 Position in Airbnb, Inc. $ABNB

Key Points

• Kaufman Rossin Wealth LLC reduced its position in Airbnb, Inc. by 64.3%, holding $230,000 worth of stock as of the latest SEC filing.
• Institutional investors own 80.76% of Airbnb's stock, with significant increases from firms like Harris Associates L P and Vanguard Group Inc. in recent quarters.
• Research analysts have a consensus rating of "Hold" for Airbnb with an average target price of $141.19 following various upgrades and downgrades from major firms.

Kaufman Rossin Wealth LLC lessened its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 64.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,737 shares of the company's stock after selling 3,135 shares during the quarter. Kaufman Rossin Wealth LLC's holdings in Airbnb were worth $230,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABNB shares. JPMorgan Chase & Co. lifted their target price on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. BMO Capital Markets set a $124.00 price target on Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday, July 16th. Barclays set a $105.00 price objective on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Finally, Zacks Research raised Airbnb to a "hold" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $141.19.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00. Following the transaction, the director directly owned 1,176,015 shares of the company's stock, valued at approximately $142,015,571.40. This represents a 16.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 2,246 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at approximately $22,850,752.80. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,673,726 shares of company stock worth $217,218,153 over the last quarter. 27.91% of the stock is owned by company insiders.

Airbnb Stock Performance

Airbnb stock opened at $127.04 on Friday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a market capitalization of $78.95 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.13. The stock has a fifty day moving average of $129.15 and a 200-day moving average of $128.01.

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

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.

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.