ASK Capital Management LLC Makes New $9.58 Million Investment in Airbnb, Inc. (NASDAQ:ABNB)

ASK Capital Management LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 72,867 shares of the company's stock, valued at approximately $9,575,000. Airbnb comprises about 2.2% of ASK Capital Management LLC's portfolio, making the stock its 2nd largest position.

Other institutional investors have also bought and sold shares of the company. Alaethes Wealth LLC purchased a new stake in shares of Airbnb in the 4th quarter valued at approximately $1,118,000. Meiji Yasuda Life Insurance Co lifted its holdings in Airbnb by 56.4% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 3,523 shares of the company's stock valued at $463,000 after acquiring an additional 1,270 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Airbnb in the fourth quarter worth approximately $4,139,000. Davidson Kahn Capital Management LLC purchased a new position in Airbnb in the fourth quarter worth approximately $936,000. Finally, Comerica Bank increased its stake in Airbnb by 10.2% during the fourth quarter. Comerica Bank now owns 93,890 shares of the company's stock worth $12,338,000 after acquiring an additional 8,719 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

ABNB stock traded down $3.22 on Tuesday, hitting $121.67. The company's stock had a trading volume of 5,224,914 shares, compared to its average volume of 4,909,477. The stock has a market cap of $76.72 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The firm has a 50 day moving average of $122.77 and a two-hundred day moving average of $131.44. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Airbnb's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. Equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group lowered their price target on Airbnb from $160.00 to $138.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Susquehanna dropped their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research report on Monday. Citigroup decreased their price objective on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday. Morgan Stanley increased their price objective on shares of Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a research report on Thursday, April 17th. Finally, Robert W. Baird cut their target price on Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and a consensus target price of $142.31.

Insider Activity

In related news, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the sale, the chief executive officer now directly owns 12,000,913 shares in the company, valued at $1,934,067,139.08. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the transaction, the insider now owns 164,850 shares of the company's stock, valued at $26,046,300. This represents a 52.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,953,435 shares of company stock valued at $266,592,685. Company insiders own 27.83% of the company's stock.

Airbnb Profile

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.