Kaufman Rossin Wealth LLC Invests $582,000 in Airbnb, Inc. $ABNB

Key Points

• Kaufman Rossin Wealth LLC invested approximately $582,000 in Airbnb, Inc., acquiring 4,872 shares of the company during the first quarter.
• Insider transactions included Airbnb's CTO selling 600 shares and CAO selling 5,000 shares, indicating significant insider activity amid changes in ownership.
• Airbnb's stock opened at $124.96, with a market cap of $77.66 billion and a PE ratio of 30.26, reflecting a stock that has shown variations ranging from a 12-month low of $99.88 to a high of $163.93.

Kaufman Rossin Wealth LLC bought a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 4,872 shares of the company's stock, valued at approximately $582,000.

Several other hedge funds have also bought and sold shares of ABNB. Park Square Financial Group LLC bought a new position in shares of Airbnb in the fourth quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in Airbnb in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC raised its stake in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares in the last quarter. Finally, SouthState Corp boosted its position in shares of Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares during the period. Institutional investors own 80.76% of the company's stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the transaction, the chief technology officer owned 209,777 shares in the company, valued at $29,240,816.03. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the transaction, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,493 shares of company stock worth $224,082,441 in the last ninety days. Company insiders own 27.91% of the company's stock.

Airbnb Trading Down 0.8%

Shares of Airbnb stock opened at $124.96 on Thursday. The firm has a market cap of $77.66 billion, a PE ratio of 30.26, a PEG ratio of 2.30 and a beta of 1.13. The stock has a 50 day moving average of $132.98 and a 200 day moving average of $130.58. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ABNB. Truist Financial restated a "sell" rating and set a $106.00 target price (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Jefferies Financial Group lowered their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company set a $110.00 price objective on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, BTIG Research reissued a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $142.72.

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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