Elyxium Wealth LLC Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Elyxium Wealth LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the company's stock, valued at approximately $394,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Verde Capital Management raised its holdings in Airbnb by 25.3% in the fourth quarter. Verde Capital Management now owns 21,118 shares of the company's stock valued at $2,775,000 after acquiring an additional 4,269 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Airbnb by 14.8% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company's stock worth $6,498,000 after acquiring an additional 6,357 shares during the period. Assenagon Asset Management S.A. grew its position in Airbnb by 40.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company's stock valued at $90,123,000 after buying an additional 197,558 shares in the last quarter. Sarasin & Partners LLP bought a new position in Airbnb in the 4th quarter valued at about $2,272,000. Finally, RFG Advisory LLC grew its position in Airbnb by 47.2% in the 4th quarter. RFG Advisory LLC now owns 6,617 shares of the company's stock valued at $870,000 after buying an additional 2,123 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABNB shares. The Goldman Sachs Group upgraded shares of Airbnb from a "sell" rating to a "neutral" rating and raised their price objective for the company from $110.00 to $153.00 in a research report on Friday, February 14th. Phillip Securities lowered shares of Airbnb from a "hold" rating to a "moderate sell" rating in a research report on Friday. Morgan Stanley increased their price target 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. Piper Sandler dropped their price target on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $141.43.

Airbnb Price Performance

ABNB stock traded up $0.67 during trading on Friday, hitting $127.06. 6,144,318 shares of the stock traded hands, compared to its average volume of 4,856,544. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The stock has a market cap of $80.12 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 3.52 and a beta of 1.14. The company has a 50 day simple moving average of $121.52 and a 200 day simple moving average of $131.17. 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 (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the sale, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. The trade was a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 214,285 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the transaction, the director now owns 2,294,870 shares of the company's stock, valued at approximately $249,590,061.20. This represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,173,970 shares of company stock valued at $293,686,892. Insiders own 27.91% of the company's stock.

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.