Airbnb, Inc. $ABNB Shares Sold by RWA Wealth Partners LLC

Key Points

• RWA Wealth Partners LLC has decreased its stake in Airbnb, Inc. by 14.0%, now holding 41,072 shares worth approximately $4.9 million following the sale of 6,696 shares.
• In contrast, other institutional investors, such as Sit Investment Associates and Vestmark Advisory Solutions, have significantly increased their holdings in Airbnb by 42.8% and 74.8% respectively during the same quarter.
• Airbnb's stock is currently priced at $125.49, and while it has a market capitalization of $77.98 billion, its 12-month high reached $163.93, contrasting its 12-month low of $99.88.

RWA Wealth Partners LLC lessened its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,072 shares of the company's stock after selling 6,696 shares during the period. RWA Wealth Partners LLC's holdings in Airbnb were worth $4,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Airbnb by 1.6% during the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after buying an additional 604,120 shares during the period. Northern Trust Corp increased its stake in shares of Airbnb by 2.5% in the 1st 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. Principal Financial Group Inc. raised its holdings in Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after purchasing an additional 1,389,251 shares during the period. Two Sigma Advisers LP raised its holdings 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 during the period. Finally, Akre Capital Management LLC boosted its position in Airbnb by 10.1% during the first quarter. Akre Capital Management LLC now owns 2,917,733 shares of the company's stock worth $348,552,000 after purchasing an additional 268,335 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Trading Up 2.8%

ABNB traded up $3.49 on Friday, hitting $129.92. 4,561,026 shares of the company's stock were exchanged, compared to its average volume of 5,640,455. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market cap of $80.74 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 2.31 and a beta of 1.13. The firm has a 50-day moving average price of $132.62 and a 200-day moving average price of $130.55.

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

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the completion of the sale, the chief financial officer directly owned 467,611 shares in the company, valued at $61,855,583.08. This represents a 1.32% decrease in their position. The sale 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 Airbnb stock in a transaction 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 in the company, valued at approximately $5,235,864. This represents a 16.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,692,739 shares of company stock valued at $224,363,640 in the last ninety days. 27.91% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of recent analyst reports. Wedbush cut their price objective on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Barclays set a $105.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. UBS Group cut their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Susquehanna decreased their price objective on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Finally, Citizens Jmp upgraded shares of Airbnb to a "hold" rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $142.72.

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.