Gries Financial LLC Acquires Shares of 2,779 Airbnb, Inc. (NASDAQ:ABNB)

Gries Financial 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 filing with the SEC. The firm acquired 2,779 shares of the company's stock, valued at approximately $332,000.

A number of 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 4th quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC grew its position in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC grew its position in shares of 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 acquiring an additional 174 shares during the period. Finally, Graney & King LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $136.40, for a total transaction of $32,190,400.00. Following the sale, the director owned 708,015 shares in the company, valued at approximately $96,573,246. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $137.58, for a total transaction of $82,548.00. Following the sale, the chief technology officer owned 210,377 shares in the company, valued at approximately $28,943,667.66. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,414,658 shares of company stock worth $186,206,855 over the last ninety days. 27.83% of the stock is currently owned by insiders.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $138.07 on Tuesday. The company has a 50-day simple moving average of $134.35 and a 200-day simple moving average of $130.79. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The stock has a market capitalization of $86.49 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 2.61 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 analysts' consensus estimates of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABNB has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. DA Davidson upgraded Airbnb from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $170.00 to $155.00 in a report on Wednesday, April 30th. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Benchmark lowered their price objective on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $141.50.

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.

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