Spire Wealth Management Sells 1,545 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Spire Wealth Management trimmed its position in Airbnb, Inc. (NASDAQ:ABNB) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,263 shares of the company’s stock after selling 1,545 shares during the period. Spire Wealth Management’s holdings in Airbnb were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Airbnb by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Northern Trust Corp raised its stake in Airbnb by 41.3% in the 3rd quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock worth $598,745,000 after acquiring an additional 1,276,456 shares during the last quarter. Legal & General Group Plc lifted its position in Airbnb by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock worth $352,466,000 after acquiring an additional 121,651 shares during the period. Alphinity Investment Management Pty Ltd grew its stake in Airbnb by 48.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock valued at $339,926,000 after purchasing an additional 813,074 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Airbnb by 69.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,301,395 shares of the company’s stock valued at $315,774,000 after purchasing an additional 943,520 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Down 1.2 %

Shares of NASDAQ ABNB opened at $157.90 on Thursday. Airbnb, Inc. has a 12-month low of $103.55 and a 12-month high of $170.10. The stock has a market cap of $102.17 billion, a P/E ratio of 21.81, a PEG ratio of 2.12 and a beta of 1.24. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $161.68 and its 200-day simple moving average is $145.50.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities analysts predict that Airbnb, Inc. will post 4.47 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, CFO Dave Stephenson sold 7,838 shares of Airbnb stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total value of $1,144,191.24. Following the transaction, the chief financial officer now directly owns 85,802 shares in the company, valued at $12,525,375.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Airbnb news, CFO Dave Stephenson sold 7,838 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total value of $1,144,191.24. Following the transaction, the chief financial officer now directly owns 85,802 shares of the company’s stock, valued at approximately $12,525,375.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 9,196 shares of Airbnb stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total transaction of $1,441,564.96. Following the completion of the sale, the chief financial officer now directly owns 535,530 shares in the company, valued at approximately $83,949,682.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,874 shares of company stock worth $63,712,671. Insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler lifted their price objective on Airbnb from $136.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Mizuho raised shares of Airbnb from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $200.00 in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their target price on shares of Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Airbnb from $118.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Truist Financial lifted their price objective on shares of Airbnb from $118.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $149.19.

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.