SYSTM Wealth Solutions LLC Sells 5,772 Shares of Airbnb, Inc. (NASDAQ:ABNB)

SYSTM Wealth Solutions LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 29.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,583 shares of the company’s stock after selling 5,772 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Airbnb were worth $2,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after buying an additional 791,149 shares in the last quarter. Edgewood Management LLC increased its position in Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares in the last quarter. Jennison Associates LLC increased its position in Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its stake in Airbnb by 1.6% during the 1st quarter. Alphinity Investment Management Pty Ltd now owns 2,536,014 shares of the company’s stock valued at $418,341,000 after purchasing an additional 39,129 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on Airbnb from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank of Canada cut their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Mizuho cut their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Finally, BMO Capital Markets cut their target price on 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 investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus price target of $134.17.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 1,500 shares of Airbnb stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the sale, the director now directly owns 42,087 shares of the company’s stock, valued at $6,313,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 1,500 shares of Airbnb stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the transaction, the director now owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The disclosure for this sale can be found here. Insiders have sold a total of 449,332 shares of company stock valued at $67,263,009 over the last ninety days. 27.83% of the stock is currently owned by company insiders.

Airbnb Price Performance

NASDAQ:ABNB opened at $122.12 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $126.85 and its two-hundred day simple moving average is $145.19. The stock has a market cap of $78.65 billion, a PE ratio of 16.35, a P/E/G ratio of 1.54 and a beta of 1.16. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. Airbnb’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, analysts forecast that Airbnb, Inc. will post 4.39 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.