SBI Securities Co. Ltd. Sells 12,577 Shares of Airbnb, Inc. (NASDAQ:ABNB)

SBI Securities Co. Ltd. reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 54.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,467 shares of the company's stock after selling 12,577 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Airbnb were worth $1,250,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Airbnb during the fourth quarter valued at about $1,445,000. Ritholtz Wealth Management boosted its position in Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock valued at $636,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in 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 buying an additional 228 shares during the last quarter. Spire Wealth Management boosted its position in Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after buying an additional 260 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Airbnb by 39.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock valued at $8,750,000 after buying an additional 20,753 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABNB. BTIG Research restated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Canaccord Genuity Group decreased their price objective on Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Monday, April 28th. B. Riley decreased their price objective on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company raised their price objective on Airbnb from $104.00 to $111.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Finally, Robert W. Baird decreased their price objective on Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $141.50.

Insider Activity

In related news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the completion of the sale, the director directly owned 1,416,015 shares of the company's stock, valued at approximately $182,184,489.90. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,629,043 shares of company stock valued at $210,678,753. 27.91% of the stock is currently owned by insiders.

Airbnb Stock Up 1.7%

ABNB stock traded up $2.26 during trading hours on Thursday, hitting $138.97. The company's stock had a trading volume of 2,107,210 shares, compared to its average volume of 5,022,000. The stock has a 50 day moving average price of $133.84 and a two-hundred day moving average price of $130.69. The company has a market capitalization of $87.05 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect 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.