Avory & Company LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,849 shares of the company's stock, valued at approximately $2,001,000. Airbnb accounts for 2.6% of Avory & Company LLC's investment portfolio, making the stock its 13th largest position.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABNB. Patton Fund Management Inc. raised its position in Airbnb by 4.3% during the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company's stock valued at $254,000 after purchasing an additional 77 shares in the last quarter. BOKF NA grew its position in shares of Airbnb by 11.0% during the 4th quarter. BOKF NA now owns 787 shares of the company's stock worth $107,000 after buying an additional 78 shares in the last quarter. Yoder Wealth Management Inc. increased its stake in shares of Airbnb by 0.3% during the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company's stock valued at $3,582,000 after buying an additional 84 shares during the period. Private Advisor Group LLC increased its stake in shares of Airbnb by 1.0% during the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company's stock valued at $1,007,000 after buying an additional 86 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its holdings in shares of Airbnb by 3.4% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,692 shares of the company's stock valued at $365,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 80.76% of the company's stock.
Airbnb Trading Down 0.9%
NASDAQ ABNB opened at $147.65 on Tuesday. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $150.19. The company has a fifty day simple moving average of $137.99 and a two-hundred day simple moving average of $133.70. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a market cap of $88.99 billion, a P/E ratio of 36.37, a P/E/G ratio of 1.60 and a beta of 1.14.
Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. Airbnb's revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current year.
Insider Activity
In related news, CEO Brian Chesky sold 265,746 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the sale, the chief executive officer owned 11,206,389 shares in the company, valued at $1,481,708,753.58. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 88,366 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total value of $12,884,646.46. Following the completion of the sale, the insider owned 12,370 shares in the company, valued at approximately $1,803,669.70. This represents a 87.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,281,621 shares of company stock valued at $315,312,325. Company insiders own 27.21% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on ABNB shares. Oppenheimer raised shares of Airbnb from a "market perform" rating to an "outperform" rating and set a $180.00 price objective for the company in a research note on Monday, May 4th. Rodman & Renshaw assumed coverage on shares of Airbnb in a research report on Monday, May 4th. They set a "buy" rating on the stock. Raymond James Financial upgraded shares of Airbnb from a "market perform" rating to a "strong-buy" rating in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $173.00 price target on shares of Airbnb in a research report on Thursday, May 21st. Finally, Wedbush upgraded shares of Airbnb from a "neutral" rating to a "neutral" rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.36.
Get Our Latest Research Report on ABNB
Airbnb Company Profile
(
Free Report)
Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.
Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.
Further Reading
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