Gladstone Institutional Advisory LLC Cuts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Gladstone Institutional Advisory LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 22.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,073 shares of the company’s stock after selling 1,505 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Airbnb were worth $691,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mount Vernon Associates Inc. MD boosted its position in Airbnb by 1.0% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,270 shares of the company’s stock worth $990,000 after purchasing an additional 75 shares during the last quarter. Cambridge Trust Co. boosted its position in Airbnb by 10.0% in the fourth quarter. Cambridge Trust Co. now owns 825 shares of the company’s stock worth $112,000 after purchasing an additional 75 shares during the last quarter. Waldron Private Wealth LLC boosted its position in Airbnb by 0.5% in the fourth quarter. Waldron Private Wealth LLC now owns 16,171 shares of the company’s stock worth $2,201,000 after purchasing an additional 78 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Airbnb by 36.2% in the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the last quarter. Finally, Centurion Wealth Management LLC boosted its position in Airbnb by 2.3% in the fourth quarter. Centurion Wealth Management LLC now owns 3,605 shares of the company’s stock worth $491,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the sale, the chief technology officer now directly owns 146,131 shares in the company, valued at approximately $22,695,605.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the sale, the chief technology officer now owns 146,131 shares in the company, valued at approximately $22,695,605.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 9,196 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $156.76, for a total value of $1,441,564.96. Following the completion of the sale, the chief financial officer now owns 535,530 shares of the company’s stock, valued at approximately $83,949,682.80. The disclosure for this sale can be found here. Insiders sold 313,324 shares of company stock worth $51,386,281 in the last ninety days. 27.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABNB has been the topic of several research analyst reports. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $150.00 to $200.00 in a research report on Wednesday, April 24th. HSBC cut Airbnb from a “buy” rating to a “hold” rating and dropped their price target for the company from $160.00 to $156.00 in a research report on Thursday, May 9th. B. Riley initiated coverage on Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Royal Bank of Canada upped their price target on Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $155.00 price target (up previously from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $152.13.

Airbnb Price Performance

Shares of Airbnb stock opened at $142.71 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $91.91 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The business’s 50-day moving average price is $158.48 and its 200-day moving average price is $147.44. Airbnb, Inc. has a 12 month low of $103.74 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.23 by $0.18. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.67 EPS for the current fiscal year.

Airbnb Company 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.