Schechter Investment Advisors LLC Sells 1,868 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Schechter Investment Advisors LLC trimmed its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 12.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,961 shares of the company's stock after selling 1,868 shares during the period. Schechter Investment Advisors LLC's holdings in Airbnb were worth $1,548,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABNB. Park Square Financial Group LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at about $28,000. Graney & King LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at about $32,000. Stonebridge Financial Group LLC increased its position in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its position in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Down 1.2%

ABNB stock opened at $135.35 on Monday. The stock has a 50-day moving average price of $133.00 and a 200-day moving average price of $130.57. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market cap of $84.78 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.53 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the business posted $0.41 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABNB. Piper Sandler lowered their target price on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Citigroup lowered their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Evercore ISI lowered their price target on Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Wedbush downgraded Airbnb from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Finally, BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $141.47.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $123.43, for a total value of $771,437.50. Following the completion of the transaction, the chief financial officer directly owned 485,080 shares of the company's stock, valued at approximately $59,873,424.40. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the completion of the sale, the director owned 1,416,015 shares of the company's stock, valued at approximately $182,184,489.90. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,629,143 shares of company stock valued at $210,676,703. Corporate insiders own 27.83% of the company's stock.

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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