Parcion Private Wealth LLC Purchases Shares of 3,237 Airbnb, Inc. (NASDAQ:ABNB)

Parcion Private Wealth LLC acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,237 shares of the company's stock, valued at approximately $387,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in Airbnb by 11.7% during the 1st quarter. Victory Capital Management Inc. now owns 874,740 shares of the company's stock valued at $104,496,000 after buying an additional 91,487 shares in the last quarter. Larson Financial Group LLC increased its position in Airbnb by 61.9% during the 1st quarter. Larson Financial Group LLC now owns 573 shares of the company's stock valued at $68,000 after buying an additional 219 shares in the last quarter. Sage Mountain Advisors LLC increased its position in Airbnb by 3.6% during the 1st quarter. Sage Mountain Advisors LLC now owns 7,142 shares of the company's stock valued at $853,000 after buying an additional 250 shares in the last quarter. Wealthfront Advisers LLC increased its position in Airbnb by 6.1% during the 1st quarter. Wealthfront Advisers LLC now owns 16,651 shares of the company's stock valued at $1,989,000 after buying an additional 954 shares in the last quarter. Finally, GPM Growth Investors Inc. acquired a new position in Airbnb during the 1st quarter valued at about $2,769,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $137.21, for a total value of $82,326.00. Following the sale, the chief technology officer owned 210,977 shares of the company's stock, valued at approximately $28,948,154.17. This represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,629,043 shares of company stock valued at $210,678,753. 27.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABNB has been the topic of a number of research reports. Piper Sandler cut their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Truist Financial reissued a "sell" rating and issued a $106.00 price objective (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Royal Bank Of Canada cut their price objective on Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group dropped their target price on Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Airbnb presently has an average rating of "Hold" and a consensus price target of $141.50.

Airbnb Stock Up 0.0%

ABNB stock traded up $0.04 during trading on Friday, hitting $139.34. The company had a trading volume of 2,981,869 shares, compared to its average volume of 5,039,366. The firm has a 50-day moving average price of $134.35 and a 200-day moving average price of $130.79. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market cap of $87.28 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.61 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its 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 return on equity of 30.91% and a net margin of 22.60%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current 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.