Prosperity Wealth Management Inc. Lowers Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Prosperity Wealth Management Inc. trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 54.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,725 shares of the company’s stock after selling 2,075 shares during the period. Prosperity Wealth Management Inc.’s holdings in Airbnb were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Wellesley Asset Management bought a new position in shares of Airbnb during the first quarter valued at approximately $121,000. CVA Family Office LLC bought a new stake in Airbnb during the 4th quarter valued at $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb in the 3rd quarter valued at $27,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Airbnb in the 4th quarter worth $30,000. Finally, Farmers & Merchants Investments Inc. bought a new position in shares of Airbnb in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares of the company’s stock, valued at approximately $24,435,238.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Brian Chesky sold 3,160 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $142.29, for a total transaction of $449,636.40. Following the transaction, the chief executive officer now owns 14,930,137 shares of the company’s stock, valued at approximately $2,124,409,193.73. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 78,682 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the sale, the chief technology officer now directly owns 144,331 shares in the company, valued at approximately $24,435,238.30. The disclosure for this sale can be found here. Insiders have sold 490,584 shares of company stock worth $77,302,032 in the last ninety days. 30.84% of the stock is owned by insiders.

Airbnb Stock Performance

NASDAQ ABNB opened at $158.37 on Thursday. Airbnb, Inc. has a fifty-two week low of $103.55 and a fifty-two week high of $170.10. The firm has a market capitalization of $102.48 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The stock’s fifty day moving average is $159.21 and its two-hundred day moving average is $141.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. On average, research analysts anticipate that Airbnb, Inc. will post 4.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho increased their price target on shares of Airbnb from $130.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Wells Fargo & Company increased their target price on shares of Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a research report on Monday, April 1st. UBS Group cut their price target on shares of Airbnb from $148.00 to $143.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Thursday, April 11th. Finally, B. Riley started coverage on Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $147.58.

Airbnb 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.