Cache Advisors LLC Acquires Shares of 7,102 Airbnb, Inc. (NASDAQ:ABNB)

Cache Advisors LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,102 shares of the company's stock, valued at approximately $933,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABNB. Norges Bank acquired a new stake in Airbnb in the fourth quarter worth about $433,374,000. Clearbridge Investments LLC increased its position in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the period. Two Sigma Advisers LP increased its position in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. increased its position in Airbnb by 174.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock worth $245,268,000 after purchasing an additional 1,185,892 shares during the period. Finally, AQR Capital Management LLC increased its position in Airbnb by 52.1% in the fourth 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 currently owned by institutional investors and hedge funds.

Airbnb Stock Down 0.2%

Shares of Airbnb stock traded down $0.26 on Thursday, reaching $128.42. 1,722,639 shares of the company were exchanged, compared to its average volume of 4,904,615. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a market capitalization of $80.44 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 3.52 and a beta of 1.14. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $122.51 and a 200 day moving average of $130.78.

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). The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $140.10, for a total transaction of $875,625.00. Following the transaction, the chief financial officer now directly owns 449,463 shares of the company's stock, valued at approximately $62,969,766.30. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.80, for a total value of $27,171,338.00. Following the completion of the transaction, the director now directly owns 214,290 shares in the company, valued at approximately $27,171,972. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,389,925 shares of company stock valued at $170,370,496. 27.91% of the stock is owned by insiders.

Analysts Set New Price Targets

ABNB has been the subject of several analyst reports. Morgan Stanley boosted their target price on Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a research report on Thursday, April 17th. Hsbc Global Res upgraded Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Susquehanna decreased their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research report on Monday, May 5th. Baird R W upgraded Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Gordon Haskett upgraded Airbnb from a "sell" rating to a "hold" rating and set a $143.00 target price for the company in a research report on Friday, February 14th. 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 data from MarketBeat, Airbnb presently has an average rating of "Hold" and an average price target of $141.43.

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.