Integrated Wealth Concepts LLC Sells 742 Shares of Airbnb, Inc. $ABNB

Integrated Wealth Concepts LLC decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,462 shares of the company’s stock after selling 742 shares during the period. Integrated Wealth Concepts LLC’s holdings in Airbnb were worth $891,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harris Associates L P lifted its holdings in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock worth $334,715,000 after buying an additional 2,685,026 shares during the period. Two Sigma Advisers LP grew its position in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the last quarter. AQR Capital Management LLC grew its position in Airbnb by 81.0% during the 1st 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 last quarter. Finally, Principal Financial Group Inc. grew its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 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 600 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $124.96, for a total transaction of $74,976.00. Following the transaction, the chief technology officer directly owned 202,006 shares in the company, valued at approximately $25,242,669.76. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $127.53, for a total value of $30,097,080.00. Following the completion of the transaction, the director directly owned 1,412,015 shares in the company, valued at $180,074,272.95. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,438,326 shares of company stock valued at $188,798,155 in the last 90 days. 27.91% of the stock is owned by corporate insiders.

Airbnb Price Performance

Shares of ABNB stock opened at $123.05 on Friday. The stock has a 50 day simple moving average of $130.74 and a 200-day simple moving average of $128.74. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a market cap of $76.47 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.25 and a beta of 1.13.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABNB. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research note on Wednesday, July 16th. Morgan Stanley cut their target price on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Wednesday, May 28th. Barclays set a $105.00 target price on shares of Airbnb and gave the company an “underweight” rating in a research note on Thursday, August 7th. Finally, Truist Financial decreased their price objective on Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $142.66.

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.