Calamos Advisors LLC Sells 125,210,986 Shares of Airbnb, Inc. $ABNB

Calamos Advisors LLC lowered its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 99.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,655 shares of the company’s stock after selling 125,210,986 shares during the quarter. Calamos Advisors LLC’s holdings in Airbnb were worth $27,233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABNB. Patton Fund Management Inc. raised its position in shares of Airbnb by 4.3% in the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock worth $254,000 after acquiring an additional 77 shares in the last quarter. BOKF NA raised its holdings in shares of Airbnb by 11.0% in the fourth quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after buying an additional 78 shares during the last quarter. Yoder Wealth Management Inc. lifted its position in Airbnb by 0.3% during the 4th quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock worth $3,582,000 after acquiring an additional 84 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Airbnb by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after buying an additional 86 shares during the period. Finally, FSB Premier Wealth Management Inc. boosted its position in Airbnb by 3.4% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,692 shares of the company’s stock worth $365,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Robert W. Baird lifted their price target on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Susquehanna raised their target price on Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. B. Riley Financial restated a “buy” rating on shares of Airbnb in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.36.

Insider Buying and Selling

In other news, Director Kenneth I. Chenault sold 8,346 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the transaction, the director owned 40,879 shares of the company’s stock, valued at $6,131,850. The trade was a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $148.01, for a total value of $555,037.50. Following the completion of the transaction, the chief financial officer owned 445,290 shares of the company’s stock, valued at $65,907,372.90. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,325,429 shares of company stock worth $321,925,435 in the last 90 days. Corporate insiders own 27.21% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $146.33 on Tuesday. The company has a market cap of $88.19 billion, a PE ratio of 36.04, a P/E/G ratio of 1.59 and a beta of 1.14. The stock has a fifty day moving average price of $138.59 and a 200 day moving average price of $134.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $150.19.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.91 EPS for the current year.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.