Alpha Cubed Investments LLC Cuts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Alpha Cubed Investments LLC decreased its position in Airbnb, Inc. (NASDAQ:ABNB) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,510 shares of the company’s stock after selling 376 shares during the period. Alpha Cubed Investments LLC’s holdings in Airbnb were worth $206,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ABNB. Kestra Private Wealth Services LLC increased its position in shares of Airbnb by 2.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 14,080 shares of the company’s stock valued at $1,917,000 after acquiring an additional 293 shares during the last quarter. Steele Capital Management Inc. bought a new position in Airbnb during the fourth quarter valued at about $415,000. Mather Group LLC. purchased a new stake in Airbnb during the fourth quarter worth about $220,000. Pursue Wealth Partners LLC increased its holdings in Airbnb by 17.7% during the fourth quarter. Pursue Wealth Partners LLC now owns 7,943 shares of the company’s stock worth $1,081,000 after buying an additional 1,197 shares during the last quarter. Finally, Cornerstone Capital Inc. boosted its stake in Airbnb by 38.9% in the fourth quarter. Cornerstone Capital Inc. now owns 2,750 shares of the company’s stock valued at $374,000 after acquiring an additional 770 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other Airbnb news, CFO Dave Stephenson sold 7,838 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total transaction of $1,144,191.24. Following the completion of the sale, the chief financial officer now owns 85,802 shares of the company’s stock, valued at approximately $12,525,375.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Aristotle N. Balogh sold 75,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the sale, the chief technology officer now directly owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dave Stephenson sold 7,838 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total transaction of $1,144,191.24. Following the transaction, the chief financial officer now owns 85,802 shares in the company, valued at approximately $12,525,375.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 396,274 shares of company stock worth $63,616,059. Insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.5 %

Shares of NASDAQ:ABNB opened at $156.16 on Thursday. The stock has a market capitalization of $101.05 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.16 and a beta of 1.25. The stock’s 50-day moving average price is $160.84 and its 200-day moving average price is $144.10. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12-month low of $103.55 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. On average, equities analysts anticipate that Airbnb, Inc. will post 4.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Tigress Financial raised their target price on Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Wedbush reissued a “neutral” rating and issued a $160.00 price objective on shares of Airbnb in a report on Thursday, April 18th. B. Riley initiated coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price objective on the stock. Bank of America increased their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, B. Riley Financial started coverage on shares of Airbnb in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $149.19.

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.