Advisory Resource Group Sells 2,670 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Advisory Resource Group reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,764 shares of the company’s stock after selling 2,670 shares during the quarter. Advisory Resource Group’s holdings in Airbnb were worth $1,020,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABNB. Northwest Investment Counselors LLC bought a new position in Airbnb in the 3rd quarter valued at $25,000. Golden State Wealth Management LLC purchased a new stake in shares of Airbnb in the fourth quarter worth $25,000. Hollencrest Capital Management grew its position in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Airbnb during the fourth quarter worth about $26,000. Finally, Ashton Thomas Securities LLC bought a new position in Airbnb in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup boosted their price objective on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Piper Sandler increased their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Robert W. Baird raised their price target on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Friday, November 8th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $139.63.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at $25,218,158.14. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $137.00, for a total transaction of $137,000.00. Following the transaction, the chief accounting officer now owns 40,581 shares in the company, valued at approximately $5,559,597. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,417,704 shares of company stock valued at $187,654,829 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Airbnb stock opened at $134.98 on Friday. The stock’s 50 day moving average is $132.98 and its 200 day moving average is $130.04. The company has a market capitalization of $85.57 billion, a P/E ratio of 47.36, a PEG ratio of 1.88 and a beta of 1.12. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, equities research analysts predict that Airbnb, Inc. will post 3.97 earnings per share 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.