FSM Wealth Advisors LLC Takes $343,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

FSM Wealth Advisors LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,870 shares of the company's stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABNB. Park Square Financial Group LLC bought a new stake in Airbnb during the fourth quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Airbnb during the 4th quarter valued at approximately $28,000. Graney & King LLC purchased a new position in Airbnb in the 4th quarter worth approximately $32,000. Stonebridge Financial Group LLC boosted its stake in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB traded up $1.11 during trading on Thursday, reaching $136.50. 2,628,584 shares of the company's stock were exchanged, compared to its average volume of 5,024,727. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company's fifty day simple moving average is $131.16 and its 200-day simple moving average is $130.42. The stock has a market capitalization of $85.50 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its 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 business had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period last year, the business earned $0.41 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ABNB. Wedbush downgraded shares of Airbnb from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Citigroup reduced their price target on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Benchmark decreased their price target on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their target price on Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, Susquehanna cut their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a report on Monday, May 5th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and a consensus price target of $141.23.

Insider Activity

In related news, CEO Brian Chesky sold 8,000 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the sale, the chief executive officer owned 40,800 shares in the company, valued at approximately $5,235,864. This trade represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the transaction, the chief financial officer owned 485,080 shares of the company's stock, valued at approximately $59,873,424.40. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,607,528 shares of company stock valued at $201,688,571 in the last three months. 27.91% of the stock is currently owned by corporate insiders.

Airbnb 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.