Dakota Wealth Management Has $904,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

Dakota Wealth Management boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,565 shares of the company's stock after buying an additional 1,871 shares during the quarter. Dakota Wealth Management's holdings in Airbnb were worth $904,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Sumitomo Life Insurance Co. increased its position in Airbnb by 4.8% during the first quarter. Sumitomo Life Insurance Co. now owns 64,161 shares of the company's stock worth $7,665,000 after buying an additional 2,939 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Airbnb by 16.3% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 48,249 shares of the company's stock worth $5,804,000 after buying an additional 6,762 shares during the last quarter. Apollon Wealth Management LLC increased its position in Airbnb by 4.5% during the first quarter. Apollon Wealth Management LLC now owns 8,603 shares of the company's stock worth $1,028,000 after buying an additional 370 shares during the last quarter. Signaturefd LLC increased its position in Airbnb by 11.2% during the first quarter. Signaturefd LLC now owns 4,805 shares of the company's stock worth $574,000 after buying an additional 483 shares during the last quarter. Finally, MTM Investment Management LLC boosted its holdings in shares of Airbnb by 13.1% during the first quarter. MTM Investment Management LLC now owns 10,277 shares of the company's stock worth $1,245,000 after acquiring an additional 1,188 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ ABNB traded up $0.04 on Friday, reaching $139.34. The company had a trading volume of 2,981,708 shares, compared to its average volume of 5,025,999. The firm has a market cap of $87.28 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.56 and a beta of 1.13. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The business has a 50 day moving average of $134.10 and a two-hundred day moving average of $130.74.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. As a group, research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $137.21, for a total value of $82,326.00. Following the completion of the sale, the chief technology officer directly owned 210,977 shares in the company, valued at $28,948,154.17. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $136.40, for a total value of $32,190,400.00. Following the completion of the sale, the director owned 708,015 shares of the company's stock, valued at $96,573,246. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,629,043 shares of company stock worth $210,678,753 over the last three months. Company insiders own 27.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABNB. JPMorgan Chase & Co. reduced their price objective on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wedbush cut Airbnb from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price objective on shares of Airbnb in a report on Wednesday, May 14th. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Morgan Stanley boosted their price objective on Airbnb from $125.00 to $130.00 and gave the stock an "underweight" rating in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $141.50.

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.