Airbnb, Inc. $ABNB Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 79.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 128,439 shares of the company’s stock after selling 484,145 shares during the period. Airbnb makes up 0.6% of GC Wealth Management RIA LLC’s holdings, making the stock its 24th largest holding. GC Wealth Management RIA LLC’s holdings in Airbnb were worth $17,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of ABNB. Vanguard Group Inc. boosted its position in Airbnb by 1.7% during the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after purchasing an additional 649,323 shares in the last quarter. Harris Associates L P raised its stake in shares of Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after buying an additional 4,292,383 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Airbnb by 58.6% during the 3rd quarter. AQR Capital Management LLC now owns 4,269,937 shares of the company’s stock worth $518,456,000 after buying an additional 1,577,338 shares during the last quarter. Independent Franchise Partners LLP purchased a new stake in shares of Airbnb in the 3rd quarter worth about $505,672,000. Finally, Akre Capital Management LLC boosted its position in shares of Airbnb by 19.0% in the 2nd quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock worth $459,649,000 after buying an additional 555,510 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Airbnb from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $136.00 to $178.00 in a report on Wednesday, April 22nd. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Airbnb in a report on Friday, February 13th. BMO Capital Markets increased their price target on shares of Airbnb from $130.00 to $140.00 and gave the company a “market perform” rating in a research report on Friday, February 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $135.00 price objective on shares of Airbnb in a research note on Monday. Finally, Citigroup upgraded Airbnb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $151.43.

Airbnb Trading Down 1.4%

Shares of ABNB stock opened at $139.04 on Wednesday. The firm has a 50-day moving average price of $131.93 and a 200 day moving average price of $128.69. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $147.25. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 1.71 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. Airbnb’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. As a group, research analysts predict that Airbnb, Inc. will post 4.96 earnings per share for the current year.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 24,788 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $145.86, for a total transaction of $3,615,577.68. Following the transaction, the insider owned 11,920 shares of the company’s stock, valued at approximately $1,738,651.20. This represents a 67.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $130.99, for a total transaction of $491,212.50. Following the sale, the chief financial officer owned 394,359 shares in the company, valued at approximately $51,657,085.41. This trade represents a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 399,075 shares of company stock valued at $52,168,585. Company insiders own 27.83% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.