AlphaCore Capital LLC Buys Shares of 3,287 Airbnb, Inc. (NASDAQ:ABNB)

AlphaCore Capital LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,287 shares of the company's stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABNB. Norges Bank bought a new position in shares of Airbnb in the 4th quarter valued at about $433,374,000. Clearbridge Investments LLC raised its position in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after purchasing an additional 2,590,475 shares during the period. Two Sigma Advisers LP raised its position in Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock valued at $245,268,000 after purchasing an additional 1,185,892 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Airbnb by 52.1% in the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after purchasing an additional 809,964 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded down $0.31 during trading on Thursday, hitting $128.36. 4,662,052 shares of the stock traded hands, compared to its average volume of 4,915,818. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $122.51 and a two-hundred day moving average price of $130.78. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market cap of $80.41 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly 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 period in the previous year, the company posted $0.41 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of recent analyst reports. Barclays reduced their price objective on shares of Airbnb from $120.00 to $103.00 and set an "underweight" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. JMP Securities restated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Robert W. Baird cut their price objective on shares of Airbnb from $175.00 to $160.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Finally, Wedbush cut Airbnb from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $150.00 to $135.00 in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.43.

Insider Activity

In other news, insider Nathan Blecharczyk sold 2,245 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total value of $300,897.35. Following the transaction, the insider now directly owns 188,173 shares of the company's stock, valued at approximately $25,220,827.19. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the transaction, the director now directly owns 2,294,870 shares in the company, valued at $249,590,061.20. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,389,925 shares of company stock worth $170,370,496 in the last quarter. Corporate insiders own 27.91% of the company's stock.

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.