Earned Wealth Advisors LLC Sells 1,812 Shares of Airbnb, Inc. $ABNB

Earned Wealth Advisors LLC cut its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 50.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,754 shares of the company’s stock after selling 1,812 shares during the period. Earned Wealth Advisors LLC’s holdings in Airbnb were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. Harris Associates L P raised its position in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares during the period. Pacer Advisors Inc. raised its position in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the period. AQR Capital Management LLC raised its position in Airbnb by 81.0% during the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in Airbnb during the second quarter valued at approximately $170,189,000. Finally, Consulta Ltd purchased a new stake in Airbnb during the first quarter valued at approximately $149,325,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 12,184 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $127.65, for a total value of $1,555,287.60. Following the transaction, the chief financial officer owned 444,070 shares of the company’s stock, valued at $56,685,535.50. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $125.36, for a total value of $29,584,960.00. Following the completion of the transaction, the director directly owned 15 shares in the company, valued at approximately $1,880.40. This trade represents a 99.99% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,682,160 shares of company stock worth $210,262,707. 27.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of recent research reports. Truist Financial decreased their price objective on Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a research report on Wednesday, September 3rd. Barclays set a $105.00 price objective on Airbnb and gave the company an “underweight” rating in a research report on Thursday, August 7th. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. Jefferies Financial Group decreased their price objective on Airbnb from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Finally, Zacks Research upgraded Airbnb to a “hold” rating in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.70.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $126.54 on Friday. The business’s 50 day moving average price is $124.55 and its 200-day moving average price is $128.36. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company has a market cap of $78.64 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.30 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current 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.