Biechele Royce Advisors Sells 7,190 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Biechele Royce Advisors lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 50.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,050 shares of the company's stock after selling 7,190 shares during the period. Biechele Royce Advisors' holdings in Airbnb were worth $1,163,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Csenge Advisory Group bought a new stake in Airbnb during the first quarter worth about $303,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Airbnb in the first quarter worth approximately $204,000. Richardson Financial Services Inc. bought a new position in shares of Airbnb in the first quarter worth approximately $59,000. Larson Financial Group LLC lifted its stake in shares of Airbnb by 418.5% in the first quarter. Larson Financial Group LLC now owns 980 shares of the company's stock worth $162,000 after buying an additional 791 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Airbnb by 1.2% in the first quarter. Proficio Capital Partners LLC now owns 8,035 shares of the company's stock worth $1,325,000 after buying an additional 97 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company's stock, valued at approximately $31,833,968.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total transaction of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company's stock, valued at approximately $31,833,968.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David C. Bernstein sold 2,000 shares of the firm's stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $145.50, for a total transaction of $291,000.00. Following the transaction, the chief accounting officer now directly owns 45,043 shares in the company, valued at approximately $6,553,756.50. The disclosure for this sale can be found here. Insiders have sold 540,307 shares of company stock valued at $80,338,959 in the last 90 days. Company insiders own 27.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wedbush raised shares of Airbnb from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $160.00 to $165.00 in a report on Tuesday, May 28th. Citigroup decreased their price objective on shares of Airbnb from $170.00 to $167.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Mizuho raised shares of Airbnb from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Piper Sandler reissued a "neutral" rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Finally, UBS Group boosted their price objective on shares of Airbnb from $143.00 to $157.00 and gave the company a "neutral" rating in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $152.44.

Airbnb Trading Down 3.8 %

Shares of ABNB traded down $5.84 during midday trading on Thursday, hitting $146.00. The stock had a trading volume of 6,286,597 shares, compared to its average volume of 4,383,476. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10. The firm has a market cap of $94.03 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. The stock's 50 day moving average is $149.14 and its 200 day moving average is $151.42.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts forecast that Airbnb, Inc. will post 4.65 EPS 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.

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