SVB Wealth LLC Sells 10,662 Shares of Airbnb, Inc. (NASDAQ:ABNB)

SVB Wealth LLC trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 20.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,747 shares of the company’s stock after selling 10,662 shares during the quarter. SVB Wealth LLC’s holdings in Airbnb were worth $6,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Airbnb by 2.4% during the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Airbnb by 158.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $619,584,000. 80.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABNB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird decreased their price target on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their price target on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Barclays decreased their price target 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. Finally, BMO Capital Markets cut their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus price target of $134.48.

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $147.25, for a total transaction of $16,990,441.25. Following the sale, the chief executive officer now directly owns 14,145,072 shares of the company’s stock, valued at approximately $2,082,861,852. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $147.25, for a total transaction of $16,990,441.25. Following the sale, the chief executive officer now directly owns 14,145,072 shares of the company’s stock, valued at approximately $2,082,861,852. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 612,907 shares of company stock valued at $91,473,471. 27.83% of the stock is owned by corporate insiders.

Airbnb Trading Down 1.6 %

ABNB opened at $114.28 on Friday. The stock has a market capitalization of $73.60 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.55 and a beta of 1.16. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The firm’s fifty day simple moving average is $131.77 and its 200 day simple moving average is $147.02. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS 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 46.11% and a return on equity of 34.74%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, research analysts anticipate that Airbnb, Inc. will post 4.43 EPS for the current fiscal year.

Airbnb Company 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.