Alps Advisors Inc. Grows Position in Airbnb, Inc. (NASDAQ:ABNB)

Alps Advisors Inc. raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,912 shares of the company's stock after acquiring an additional 2,202 shares during the quarter. Alps Advisors Inc.'s holdings in Airbnb were worth $1,184,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its position in shares of Airbnb by 2.6% in the 4th quarter. Proficio Capital Partners LLC now owns 12,069 shares of the company's stock worth $1,586,000 after purchasing an additional 308 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of Airbnb by 38.8% in the 4th quarter. Independent Advisor Alliance now owns 7,461 shares of the company's stock worth $980,000 after purchasing an additional 2,084 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Airbnb by 49.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,985 shares of the company's stock worth $786,000 after purchasing an additional 1,983 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Airbnb by 35.1% in the 4th quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company's stock worth $468,000 after purchasing an additional 924 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Airbnb by 86.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 22,881 shares of the company's stock worth $3,007,000 after purchasing an additional 10,624 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the completion of the transaction, the director directly owned 1,416,015 shares of the company's stock, valued at $182,184,489.90. This trade represents a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Monday, May 5th. The stock was sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the transaction, the chief financial officer directly owned 485,080 shares of the company's stock, valued at $59,873,424.40. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,629,043 shares of company stock valued at $210,678,753. Corporate insiders own 27.91% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABNB. UBS Group dropped their price target on Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Truist Financial reaffirmed a "sell" rating and issued a $106.00 price objective (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Piper Sandler lowered their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Benchmark lowered their price objective on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Airbnb has an average rating of "Hold" and an average price target of $141.50.

Airbnb Trading Up 1.9%

ABNB traded up $2.59 during trading on Thursday, hitting $139.30. 3,494,679 shares of the company traded hands, compared to its average volume of 5,034,177. The company has a market cap of $87.26 billion, a PE ratio of 35.18, a P/E/G ratio of 2.56 and a beta of 1.13. The stock's 50-day simple moving average is $134.10 and its two-hundred day simple moving average is $130.74. 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 posted 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 company had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.31 EPS 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.