Icon Wealth Advisors LLC Has $4.40 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Icon Wealth Advisors LLC cut its stake in Airbnb, Inc. (NASDAQ:ABNB) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,680 shares of the company’s stock after selling 909 shares during the period. Icon Wealth Advisors LLC’s holdings in Airbnb were worth $4,401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bayesian Capital Management LP acquired a new position in Airbnb during the 1st quarter worth about $1,996,000. SVB Wealth LLC grew its holdings in shares of Airbnb by 186.2% in the 1st quarter. SVB Wealth LLC now owns 52,409 shares of the company’s stock valued at $8,645,000 after buying an additional 34,095 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Airbnb in the first quarter worth about $25,000. Morse Asset Management Inc increased its stake in Airbnb by 28.5% during the 1st quarter. Morse Asset Management Inc now owns 5,416 shares of the company’s stock worth $893,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Aristides Capital LLC raised its holdings in shares of Airbnb by 24.3% during the first quarter. Aristides Capital LLC now owns 8,950 shares of the company’s stock worth $1,476,000 after acquiring an additional 1,750 shares during the period. Institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ABNB. HSBC cut Airbnb from a “buy” rating to a “hold” rating and cut their target price for the company from $160.00 to $156.00 in a research note on Thursday, May 9th. Piper Sandler reissued a “neutral” rating and issued a $155.00 price objective (up previously from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. DA Davidson reaffirmed a “neutral” rating and issued a $145.00 target price on shares of Airbnb in a research report on Thursday, May 9th. B. Riley initiated coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Finally, Tigress Financial increased their price objective on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $152.50.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $146.08, for a total value of $16,855,440.80. Following the sale, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 735,492 shares of company stock worth $109,423,324. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB stock traded down $1.30 during trading hours on Tuesday, hitting $138.99. 2,993,823 shares of the stock were exchanged, compared to its average volume of 4,326,856. Airbnb, Inc. has a 12 month low of $113.24 and a 12 month high of $170.10. 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 $89.52 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.73 and a beta of 1.18. The company has a 50-day simple moving average of $147.55 and a two-hundred day simple moving average of $152.33.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. Airbnb’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.66 earnings per share for the current fiscal year.

Airbnb 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.