Birch Hill Investment Advisors LLC Acquires 3,858 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Birch Hill Investment Advisors LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 59.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,318 shares of the company's stock after purchasing an additional 3,858 shares during the period. Birch Hill Investment Advisors LLC's holdings in Airbnb were worth $1,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABNB. Park Square Financial Group LLC acquired a new stake in shares of Airbnb during the fourth quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the 4th quarter valued at approximately $28,000. Graney & King LLC purchased a new stake in Airbnb in the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new stake in Airbnb in the 4th quarter worth approximately $44,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Airbnb during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

Shares of ABNB stock traded down $0.44 during trading hours on Friday, hitting $131.73. 7,866,771 shares of the company's stock were exchanged, compared to its average volume of 5,031,121. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a market cap of $82.52 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.48 and a beta of 1.14. The stock's 50-day moving average is $127.76 and its 200-day moving average is $130.68.

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

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total value of $23,305,636.60. Following the transaction, the director now directly owns 2,294,870 shares in the company, valued at approximately $249,590,061.20. This trade represents a 8.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 2,245 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total value of $300,897.35. Following the sale, the insider now owns 188,173 shares of the company's stock, valued at approximately $25,220,827.19. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,624,472 shares of company stock worth $203,509,100. Corporate insiders own 27.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wedbush downgraded shares of Airbnb from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $150.00 to $135.00 in a research note on Friday, May 2nd. Benchmark dropped their target price on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. DA Davidson raised Airbnb from a "neutral" rating to a "buy" rating and lowered their price target for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, Tigress Financial raised their price objective on shares of Airbnb from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Airbnb currently has an average rating of "Hold" and a consensus target price of $141.23.

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.