Portside Wealth Group LLC Reduces Position in Airbnb, Inc. (NASDAQ:ABNB)

Portside Wealth Group LLC decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,544 shares of the company’s stock after selling 378 shares during the quarter. Portside Wealth Group LLC’s holdings in Airbnb were worth $4,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Edgewood Management LLC raised its holdings in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after purchasing an additional 1,143,464 shares during the last quarter. Geode Capital Management LLC raised its stake in Airbnb by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after buying an additional 146,761 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares during the period. Legal & General Group Plc lifted its holdings in shares of Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock valued at $519,044,000 after buying an additional 153,784 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Airbnb by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after buying an additional 52,358 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the sale, the chief technology officer now owns 192,844 shares in the company, valued at $26,247,996.84. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 76,923 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now owns 12,616,300 shares in the company, valued at $1,765,525,022. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,130,982 shares of company stock worth $150,523,585. Corporate insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of recent research reports. Bank of America boosted their price target on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Barclays increased their target price on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Wells Fargo & Company cut their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday. Susquehanna upped their price target on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their target price on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.63.

Airbnb Stock Up 2.2 %

Airbnb stock opened at $135.12 on Friday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The company’s 50 day simple moving average is $134.16 and its 200 day simple moving average is $132.11. The firm has a market capitalization of $85.66 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.63 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the business earned $2.39 earnings per share. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current 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.