Xcel Wealth Management LLC Sells 220 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Xcel Wealth Management LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,016 shares of the company’s stock after selling 220 shares during the quarter. Xcel Wealth Management LLC’s holdings in Airbnb were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. RFG Advisory LLC bought a new position in Airbnb in the 1st quarter worth $414,000. Ballentine Partners LLC grew its position in shares of Airbnb by 36.1% in the 1st quarter. Ballentine Partners LLC now owns 2,808 shares of the company’s stock worth $463,000 after buying an additional 745 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Airbnb during the 1st quarter valued at about $33,000. Global Assets Advisory LLC purchased a new stake in Airbnb during the 1st quarter valued at about $9,001,000. Finally, TB Alternative Assets Ltd. boosted its holdings in shares of Airbnb by 36.0% during the 1st quarter. TB Alternative Assets Ltd. now owns 323,900 shares of the company’s stock valued at $53,431,000 after acquiring an additional 85,700 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Wedbush lowered their price objective on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lowered their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $135.03.

Airbnb Trading Down 1.1 %

NASDAQ ABNB traded down $1.51 on Tuesday, hitting $135.68. 819,198 shares of the stock were exchanged, compared to its average volume of 4,424,295. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a fifty day moving average price of $123.64 and a two-hundred day moving average price of $139.65. The firm has a market capitalization of $87.38 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts forecast that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $133.51, for a total transaction of $80,106.00. Following the completion of the sale, the chief technology officer now directly owns 193,444 shares in the company, valued at approximately $25,826,708.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the sale, the chief financial officer now directly owns 537,072 shares in the company, valued at $64,448,640. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $133.51, for a total transaction of $80,106.00. Following the completion of the transaction, the chief technology officer now owns 193,444 shares of the company’s stock, valued at $25,826,708.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 405,571 shares of company stock worth $50,126,587. 27.83% of the stock is currently owned by insiders.

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.