Envestnet Asset Management Inc. Buys 45,586 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Envestnet Asset Management Inc. raised its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,013,814 shares of the company's stock after purchasing an additional 45,586 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Airbnb worth $121,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in Airbnb by 2.6% during the fourth quarter. Proficio Capital Partners LLC now owns 12,069 shares of the company's stock valued at $1,586,000 after acquiring an additional 308 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $79,000. AlphaQuest LLC increased its holdings in shares of Airbnb by 31.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock valued at $367,000 after purchasing an additional 661 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Airbnb by 4.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,777 shares of the company's stock valued at $12,323,000 after purchasing an additional 4,292 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in Airbnb by 38.8% during the fourth quarter. Independent Advisor Alliance now owns 7,461 shares of the company's stock worth $980,000 after buying an additional 2,084 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial reaffirmed a "sell" rating and issued a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a report on Friday, May 30th. Royal Bank Of Canada dropped 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. Wells Fargo & Company upped their target price on Airbnb from $104.00 to $111.00 and gave the stock an "underweight" rating in a research note on Monday. B. Riley dropped their target price on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley upped 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. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and a consensus price target of $141.47.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the sale, the chief financial officer owned 485,080 shares in the company, valued at approximately $59,873,424.40. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the transaction, the chief executive officer directly owned 40,800 shares in the company, valued at $5,235,864. This represents a 16.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,629,143 shares of company stock worth $210,676,703. Insiders own 27.91% of the company's stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded up $0.15 during mid-day trading on Thursday, reaching $137.00. 4,933,503 shares of the company's stock were exchanged, compared to its average volume of 5,036,064. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market capitalization of $85.82 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.57 and a beta of 1.13. The business's fifty day moving average price is $132.54 and its 200-day moving average price is $130.61.

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 analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. Airbnb's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb Company 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.