Sowell Financial Services LLC Cuts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Sowell Financial Services LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 56.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,939 shares of the company's stock after selling 9,074 shares during the quarter. Sowell Financial Services LLC's holdings in Airbnb were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in Airbnb in the 4th quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at $28,000. Graney & King LLC purchased a new stake in shares of Airbnb in the 4th quarter valued at $32,000. Whipplewood Advisors LLC acquired a new position in Airbnb during the 4th quarter worth about $44,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Airbnb during the 4th quarter valued at about $49,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Up 0.0%

ABNB traded up $0.04 on Friday, reaching $132.21. The company had a trading volume of 2,110,340 shares, compared to its average volume of 5,008,879. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock has a market capitalization of $82.82 billion, a PE ratio of 33.39, a P/E/G ratio of 2.48 and a beta of 1.14. The stock has a 50-day moving average price of $127.76 and a 200-day moving average price of $130.68.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its 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 30.91% and a net margin of 22.60%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm posted $0.41 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABNB shares. B. Riley cut their price target on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Evercore ISI dropped their price objective on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Barclays reduced their target price on shares of Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald reissued an "underweight" rating and issued a $100.00 price target on shares of Airbnb in a research report on Wednesday, May 14th. Finally, Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $141.23.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.40, for a total value of $32,898,400.00. Following the completion of the sale, the director now directly owns 1,180,015 shares of the company's stock, valued at approximately $164,494,091. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $137.13, for a total value of $82,278.00. Following the transaction, the chief technology officer now directly owns 213,377 shares in the company, valued at approximately $29,260,388.01. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,624,472 shares of company stock worth $203,509,100 in the last quarter. 27.91% of the stock is owned by insiders.

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.