Icon Wealth Advisors LLC Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Icon Wealth Advisors LLC lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 2.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,312 shares of the company’s stock after selling 686 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Airbnb were worth $3,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Investments Inc increased its stake in Airbnb by 1.8% in the first quarter. Atria Investments Inc now owns 46,856 shares of the company’s stock valued at $7,729,000 after acquiring an additional 847 shares during the last quarter. PGGM Investments bought a new position in Airbnb in the first quarter valued at $779,000. Pathway Financial Advisers LLC bought a new position in Airbnb in the first quarter valued at $33,000. DekaBank Deutsche Girozentrale increased its stake in Airbnb by 55.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 166,937 shares of the company’s stock valued at $27,636,000 after acquiring an additional 59,383 shares during the last quarter. Finally, OMC Financial Services LTD bought a new position in Airbnb in the first quarter valued at $2,322,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In related news, 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 transaction of $10,764,604.62. Following the completion of the sale, the chief executive officer now owns 12,616,300 shares of the company’s stock, valued at $1,765,525,022. This trade represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at $23,501,280. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 718,017 shares of company stock worth $91,842,052. Insiders own 27.83% of the company’s stock.

Airbnb Price Performance

ABNB stock opened at $138.28 on Friday. The firm has a 50 day moving average price of $133.86 and a 200-day moving average price of $135.47. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market capitalization of $87.67 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 2.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business posted $2.39 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Piper Sandler raised their price objective on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. UBS Group raised their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Raymond James assumed coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective on the stock. Finally, Citigroup raised their price objective on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Airbnb has an average rating of “Hold” and an average price target of $138.97.

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.