Flagship Harbor Advisors LLC Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Flagship Harbor Advisors LLC raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,845 shares of the company's stock after purchasing an additional 3,116 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Airbnb were worth $1,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ABNB. Crumly & Associates Inc. lifted its position in Airbnb by 7.1% during the first quarter. Crumly & Associates Inc. now owns 3,772 shares of the company's stock valued at $451,000 after purchasing an additional 250 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Airbnb during the 1st quarter valued at about $1,487,000. H&H Retirement Design & Management INC acquired a new position in shares of Airbnb in the 1st quarter valued at about $415,000. Praxis Investment Management Inc. lifted its holdings in shares of Airbnb by 13.7% in the 1st quarter. Praxis Investment Management Inc. now owns 10,550 shares of the company's stock valued at $1,260,000 after buying an additional 1,270 shares during the period. Finally, World Equity Group Inc. boosted its stake in shares of Airbnb by 115.5% in the first quarter. World Equity Group Inc. now owns 3,670 shares of the company's stock worth $438,000 after buying an additional 1,967 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $132.27, for a total transaction of $79,362.00. Following the completion of the sale, the chief technology officer now owns 212,777 shares of the company's stock, valued at $28,144,013.79. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 38,459 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $120.44, for a total value of $4,632,001.96. Following the completion of the transaction, the chief executive officer now directly owns 11,731,685 shares in the company, valued at approximately $1,412,964,141.40. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,410,087 shares of company stock worth $175,773,584 in the last quarter. Company insiders own 27.83% of the company's stock.

Airbnb Trading Down 1.9%

ABNB stock traded down $2.48 during mid-day trading on Wednesday, reaching $129.67. The company's stock had a trading volume of 3,763,060 shares, compared to its average volume of 5,023,578. The company's 50 day moving average is $128.80 and its two-hundred day moving average is $130.50. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market cap of $81.23 billion, a PE ratio of 32.74, a P/E/G ratio of 2.44 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the company earned $0.41 earnings per share. Airbnb's revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Susquehanna reduced their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research report on Monday, May 5th. Canaccord Genuity Group dropped their price objective on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group raised shares of Airbnb from a "hold" rating to a "buy" rating and lifted their target price for the company from $165.00 to $185.00 in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price target on shares of Airbnb in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned 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, the company has a consensus rating of "Hold" and an average target price 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.