Kovitz Investment Group Partners LLC Lowers Holdings in Airbnb, Inc. $ABNB

Kovitz Investment Group Partners LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 69.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,703 shares of the company’s stock after selling 49,873 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Airbnb were worth $2,946,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Airbnb during the 3rd quarter worth $25,000. ORG Partners LLC increased its holdings in shares of Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC lifted its stake in shares of Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares during the period. Entrust Financial LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at about $27,000. Finally, Sunbelt Securities Inc. boosted its holdings in Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 30,743 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $138.40, for a total transaction of $4,254,831.20. Following the completion of the sale, the chief executive officer owned 10,701,685 shares of the company’s stock, valued at approximately $1,481,113,204. This represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 7,433 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $136.24, for a total transaction of $1,012,671.92. Following the completion of the sale, the chief financial officer directly owned 449,040 shares of the company’s stock, valued at $61,177,209.60. The trade was a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,972,860 shares of company stock worth $267,555,449 over the last three months. 27.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of research analyst reports. Mizuho increased their target price on shares of Airbnb from $156.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Oppenheimer raised Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 price target on shares of Airbnb in a report on Thursday, May 21st. Truist Financial raised their price objective on Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.96.

Airbnb Price Performance

Airbnb stock opened at $142.41 on Friday. The stock has a market capitalization of $85.83 billion, a P/E ratio of 35.08, a P/E/G ratio of 1.53 and a beta of 1.16. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $147.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The firm’s 50-day moving average is $136.36 and its two-hundred day moving average is $132.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current year.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.