Merit Financial Group LLC Boosts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Merit Financial Group LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 136.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,890 shares of the company's stock after buying an additional 13,767 shares during the period. Merit Financial Group LLC's holdings in Airbnb were worth $2,854,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. MJP Associates Inc. ADV increased its holdings in shares of Airbnb by 1.8% during the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock worth $490,000 after buying an additional 67 shares in the last quarter. CAP Partners LLC increased its holdings in shares of Airbnb by 3.6% during the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company's stock worth $293,000 after buying an additional 77 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Airbnb by 1.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company's stock worth $728,000 after purchasing an additional 78 shares during the last quarter. Ellevest Inc. grew its stake in shares of Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after purchasing an additional 80 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Airbnb by 18.2% in the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company's stock worth $69,000 after purchasing an additional 81 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Up 2.8%

Shares of ABNB stock traded up $3.77 on Thursday, reaching $137.28. 5,857,326 shares of the company were exchanged, compared to its average volume of 4,979,962. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a market cap of $85.99 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 3.52 and a beta of 1.14. The company has a 50-day moving average of $122.87 and a 200-day moving average of $130.66.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The company's revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABNB has been the topic of several analyst reports. Hsbc Global Res raised shares of Airbnb from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. reduced their price objective on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. UBS Group reduced their price objective on shares of Airbnb from $160.00 to $138.00 and set a "neutral" 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 boosted their price objective for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Finally, Baird R W raised shares of Airbnb from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Five 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $141.23.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 4,809 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $128.85, for a total value of $619,639.65. Following the sale, the chief financial officer now owns 473,861 shares in the company, valued at $61,056,989.85. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the completion of the sale, the director now owns 1,416,015 shares of the company's stock, valued at approximately $182,184,489.90. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,635,768 shares of company stock worth $201,921,499 in the last quarter. Insiders own 27.91% of the company's stock.

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.