D.A. Davidson & CO. Buys 2,024 Shares of Airbnb, Inc. (NASDAQ:ABNB)

D.A. Davidson & CO. raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,931 shares of the company's stock after purchasing an additional 2,024 shares during the period. D.A. Davidson & CO.'s holdings in Airbnb were worth $4,053,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABNB. Jones Financial Companies Lllp boosted its stake in Airbnb by 43.0% during the 4th quarter. Jones Financial Companies Lllp now owns 7,166 shares of the company's stock valued at $942,000 after purchasing an additional 2,155 shares during the last quarter. Assetmark Inc. boosted its stake in Airbnb by 7.4% during the 4th quarter. Assetmark Inc. now owns 53,691 shares of the company's stock valued at $7,056,000 after purchasing an additional 3,697 shares during the last quarter. M&T Bank Corp boosted its stake in Airbnb by 12.9% during the 4th quarter. M&T Bank Corp now owns 17,045 shares of the company's stock valued at $2,240,000 after purchasing an additional 1,948 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Airbnb by 2.6% during the 4th quarter. Proficio Capital Partners LLC now owns 12,069 shares of the company's stock valued at $1,586,000 after purchasing an additional 308 shares during the last quarter. Finally, Dana Investment Advisors Inc. boosted its stake in Airbnb by 9.4% during the 4th quarter. Dana Investment Advisors Inc. now owns 6,877 shares of the company's stock valued at $904,000 after purchasing an additional 592 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

Shares of Airbnb stock traded down $0.08 during trading on Monday, reaching $136.41. 644,474 shares of the stock traded hands, compared to its average volume of 5,025,611. The company has a market capitalization of $85.45 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 2.56 and a beta of 1.13. The business has a fifty day simple moving average of $131.74 and a two-hundred day simple moving average of $130.51. 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 released its quarterly 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). The company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 EPS. On average, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Wednesday, May 28th. The stock was 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 owned 1,416,015 shares in the company, valued at approximately $182,184,489.90. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction that occurred 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 owned 40,800 shares of the company's stock, valued at $5,235,864. This trade represents a 16.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,607,528 shares of company stock worth $201,688,571. Corporate insiders own 27.83% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lowered their price target on Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada lowered their price target on Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Benchmark lowered their price target on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group raised Airbnb from a "hold" rating to a "buy" rating and increased their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. Finally, B. Riley lowered their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.