World Equity Group Inc. Sells 2,233 Shares of Airbnb, Inc. (NASDAQ:ABNB)

World Equity Group Inc. lessened its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 56.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,743 shares of the company’s stock after selling 2,233 shares during the quarter. World Equity Group Inc.’s holdings in Airbnb were worth $264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC bought a new position in shares of Airbnb in the first quarter valued at approximately $25,000. Trust Co. of Vermont bought a new position in shares of Airbnb in the fourth quarter valued at approximately $27,000. Bfsg LLC bought a new position in shares of Airbnb in the fourth quarter valued at approximately $27,000. Westend Capital Management LLC bought a new position in shares of Airbnb in the first quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Airbnb in the first quarter valued at approximately $33,000. Institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the sale, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO David C. Bernstein sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the sale, the chief accounting officer now owns 47,043 shares in the company, valued at approximately $6,915,321. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction on 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 owns 46,467 shares in the company, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. Insiders have sold a total of 735,492 shares of company stock worth $109,402,066 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ABNB. Wells Fargo & Company cut their price objective on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Barclays lowered their target price on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Bank of America lowered their target price on shares of Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Citigroup lowered their target price on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $137.00.

Airbnb Trading Down 2.2 %

Shares of NASDAQ ABNB traded down $2.57 during mid-day trading on Friday, hitting $116.31. The stock had a trading volume of 4,592,024 shares, compared to its average volume of 4,595,619. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The business has a 50 day moving average price of $141.43 and a two-hundred day moving average price of $150.43. The firm has a market cap of $74.91 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. On average, equities analysts anticipate that Airbnb, Inc. will post 4.66 EPS for the current fiscal year.

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.