Institute for Wealth Management LLC. Has $533,000 Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Institute for Wealth Management LLC. trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,059 shares of the company’s stock after selling 349 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Airbnb were worth $533,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mediolanum International Funds Ltd acquired a new position in Airbnb in the 4th quarter valued at approximately $6,006,000. Summa Corp. acquired a new position in Airbnb in the 4th quarter valued at approximately $201,000. Swedbank AB increased its position in Airbnb by 0.5% in the 4th quarter. Swedbank AB now owns 868,592 shares of the company’s stock valued at $114,142,000 after acquiring an additional 4,685 shares during the period. Hantz Financial Services Inc. increased its position in Airbnb by 1.2% in the 4th quarter. Hantz Financial Services Inc. now owns 172,087 shares of the company’s stock valued at $22,614,000 after acquiring an additional 2,077 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in Airbnb by 27.3% in the 4th quarter. Sumitomo Life Insurance Co. now owns 61,222 shares of the company’s stock valued at $8,045,000 after acquiring an additional 13,122 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the sale, the director now owns 10,321 shares in the company, valued at $1,352,876.68. This represents a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,372,293 shares of company stock worth $181,759,318 over the last quarter. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $131.17 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $133.69 and its two-hundred day moving average price is $130.78. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a market cap of $83.16 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 1.74 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the company earned $2.39 EPS. On average, analysts expect that Airbnb, Inc. will post 3.98 EPS for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Benchmark reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Susquehanna upped their price objective on shares of Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research note on Monday, November 11th. Robert W. Baird upped their price objective on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, UBS Group upped their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.63.

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.