Prime Capital Investment Advisors LLC Lowers Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Airbnb by 35.6%, selling 2,412 shares to hold 4,358 shares valued at $577,000.
• Multiple institutional investors like Sit Investment Associates and Vestmark Advisory Solutions significantly increased their positions in Airbnb, indicating ongoing confidence in the company.
• Insider transactions showed notable sales, including Nathan Blecharczyk's sale of 2,246 shares, contributing to a total of 1,430,876 shares sold by insiders in the last three months, worth about $182 million.

Prime Capital Investment Advisors LLC trimmed its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 35.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,358 shares of the company's stock after selling 2,412 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Airbnb were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sit Investment Associates Inc. increased its position in shares of Airbnb by 42.8% in the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after purchasing an additional 5,060 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Airbnb by 74.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock worth $2,451,000 after purchasing an additional 8,780 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Airbnb by 53.1% in the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock worth $2,291,000 after purchasing an additional 6,579 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Airbnb by 52.9% in the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock worth $293,590,000 after purchasing an additional 850,719 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of Airbnb by 10.0% in 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 during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 2,246 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares in the company, valued at $6,051,898. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,430,876 shares of company stock valued at $182,694,292. 27.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABNB shares. JPMorgan Chase & Co. upped their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research report on Tuesday. Finally, Truist Financial reduced their price target on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $141.81.

Airbnb Stock Performance

Shares of Airbnb stock opened at $118.19 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 $73.45 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.19 and a beta of 1.10. The company's 50 day moving average price is $124.34 and its 200-day moving average price is $127.27.

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

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