Sendero Wealth Management LLC Has $7.13 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sendero Wealth Management LLC grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 106.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,691 shares of the company's stock after purchasing an additional 30,830 shares during the period. Airbnb makes up 1.0% of Sendero Wealth Management LLC's portfolio, making the stock its 24th biggest holding. Sendero Wealth Management LLC's holdings in Airbnb were worth $7,131,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its stake in Airbnb by 18.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,734 shares of the company's stock valued at $446,000 after buying an additional 594 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of Airbnb by 36.7% during the first quarter. RFG Advisory LLC now owns 9,043 shares of the company's stock valued at $1,080,000 after acquiring an additional 2,426 shares during the period. Capital Asset Advisory Services LLC purchased a new stake in shares of Airbnb in the 1st quarter valued at approximately $2,126,000. Merit Financial Group LLC boosted its stake in Airbnb by 136.0% in the 1st quarter. Merit Financial Group LLC now owns 23,890 shares of the company's stock worth $2,854,000 after purchasing an additional 13,767 shares during the period. Finally, LVW Advisors LLC acquired a new stake in shares of Airbnb in the first quarter worth $204,000. 80.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABNB. Piper Sandler decreased their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Evercore ISI cut their target price on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Citigroup dropped their price target on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Morgan Stanley increased their price objective on Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a report on Thursday, April 17th. Finally, B. Riley dropped their target price on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Airbnb has an average rating of "Hold" and an average price target of $141.23.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 38,461 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $126.60, for a total value of $4,869,162.60. Following the sale, the chief executive officer now directly owns 11,770,144 shares in the company, valued at approximately $1,490,100,230.40. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60. Following the transaction, the director now owns 2,294,870 shares in the company, valued at $249,590,061.20. This trade represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,635,768 shares of company stock valued at $201,921,499. Insiders own 27.91% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB traded up $3.46 during trading hours on Friday, reaching $140.75. The company had a trading volume of 5,935,857 shares, compared to its average volume of 5,611,718. The stock has a 50-day moving average of $123.22 and a two-hundred day moving average of $130.69. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market capitalization of $88.17 billion, a PE ratio of 34.05, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. 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.