Pursue Wealth Partners LLC Trims Position in Airbnb, Inc. (NASDAQ:ABNB)

Pursue Wealth Partners LLC reduced its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 35.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,683 shares of the company’s stock after selling 2,590 shares during the period. Pursue Wealth Partners LLC’s holdings in Airbnb were worth $594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. acquired a new stake in Airbnb in the 1st quarter worth about $215,000. First Trust Direct Indexing L.P. lifted its holdings in Airbnb by 32.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 8,189 shares of the company’s stock valued at $1,351,000 after purchasing an additional 2,027 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Airbnb during the 1st quarter worth $266,000. Private Advisor Group LLC grew its holdings in shares of Airbnb by 4.5% during the first quarter. Private Advisor Group LLC now owns 19,111 shares of the company’s stock worth $3,153,000 after buying an additional 817 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Airbnb by 29.7% in the first quarter. Janney Montgomery Scott LLC now owns 62,176 shares of the company’s stock valued at $10,257,000 after buying an additional 14,232 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

NASDAQ:ABNB opened at $134.82 on Friday. The firm has a 50-day moving average of $126.47 and a two-hundred day moving average of $138.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $86.50 billion, a P/E ratio of 18.34, a PEG ratio of 1.93 and a beta of 1.17. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts expect that Airbnb, Inc. will post 4.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the sale, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 418,406 shares of company stock worth $51,885,773. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays cut their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price target on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Wedbush dropped their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average target price of $135.35.

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.