Diversify Wealth Management LLC Has $2.75 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Diversify Wealth Management LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 32.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,821 shares of the company’s stock after selling 9,786 shares during the quarter. Diversify Wealth Management LLC’s holdings in Airbnb were worth $2,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of Airbnb in the first quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in Airbnb in the 3rd quarter valued at approximately $25,000. New Millennium Group LLC bought a new position in Airbnb in the 2nd quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new stake in Airbnb in the second quarter valued at approximately $30,000. Finally, Heritage Wealth Advisors grew its stake in shares of Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after buying an additional 71 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 406,171 shares of company stock worth $50,208,253 over the last three months. 27.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ABNB shares. Robert W. Baird cut their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Susquehanna reduced their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. Raymond James assumed coverage on shares of Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective for the company. The Goldman Sachs Group reduced their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, B. Riley decreased their price target on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $135.35.

Airbnb Stock Up 0.3 %

NASDAQ:ABNB traded up $0.47 on Wednesday, hitting $138.25. The stock had a trading volume of 732,061 shares, compared to its average volume of 4,379,648. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The business’s fifty day moving average is $125.71 and its 200 day moving average is $138.52. The company has a market cap of $88.70 billion, a PE ratio of 18.75, a P/E/G ratio of 1.83 and a beta of 1.17.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts expect that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

About Airbnb

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.