Avestar Capital LLC Has $874,000 Stake in Airbnb, Inc. (NASDAQ:ABNB)

Avestar Capital LLC trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 12.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,890 shares of the company’s stock after selling 949 shares during the quarter. Avestar Capital LLC’s holdings in Airbnb were worth $874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABNB. Northwest Investment Counselors LLC acquired a new stake in Airbnb in the third quarter worth about $25,000. Hollencrest Capital Management boosted its stake in shares of Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Airbnb during the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. bought a new stake in shares of Airbnb during the second quarter worth approximately $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in Airbnb in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $139.67 on Wednesday. The business has a 50 day moving average of $133.55 and a 200-day moving average of $135.45. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market cap of $88.55 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 1.95 and a beta of 1.15. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company earned $2.39 earnings per share. On average, equities research analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 641,094 shares of company stock valued at $81,077,447. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ABNB shares. The Goldman Sachs Group cut their price target on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Argus cut shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Phillip Securities reissued a “reduce” rating and issued a $120.00 target price on shares of Airbnb in a research note on Tuesday, November 12th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $138.97.

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.