Paragon Capital Management Ltd Has $46.23 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Paragon Capital Management Ltd decreased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 386,946 shares of the company's stock after selling 12,422 shares during the period. Airbnb accounts for 9.5% of Paragon Capital Management Ltd's portfolio, making the stock its 3rd largest position. Paragon Capital Management Ltd owned 0.06% of Airbnb worth $46,225,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Airbnb in the fourth quarter valued at about $433,374,000. Clearbridge Investments LLC lifted its stake in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after buying an additional 2,590,475 shares during the period. Two Sigma Advisers LP lifted its stake in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after buying an additional 2,577,000 shares during the period. Principal Financial Group Inc. lifted its stake in Airbnb by 174.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock valued at $245,268,000 after buying an additional 1,185,892 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after buying an additional 820,887 shares during the period. Institutional investors own 80.76% of the company's stock.

Airbnb Stock Down 2.4%

ABNB stock traded down $3.27 during mid-day trading on Friday, reaching $135.54. The company had a trading volume of 5,090,904 shares, compared to its average volume of 5,017,162. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a 50 day simple moving average of $125.71 and a two-hundred day simple moving average of $130.81. The company has a market capitalization of $84.90 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 3.52 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

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

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $126.60, for a total transaction of $4,869,162.60. Following the completion of the transaction, the chief executive officer now directly owns 11,770,144 shares in the company, valued at approximately $1,490,100,230.40. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the transaction, the director now owns 2,294,870 shares of the company's stock, valued at $249,590,061.20. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,663,033 shares of company stock worth $208,384,185. 27.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABNB shares. Susquehanna dropped their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. Canaccord Genuity Group dropped their price target on Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. HSBC raised Airbnb from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Piper Sandler dropped their price target on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Barclays dropped their price target on Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a research report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $141.23.

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.