Kestra Private Wealth Services LLC Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

Kestra Private Wealth Services LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 15.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,019 shares of the company's stock after acquiring an additional 2,667 shares during the period. Kestra Private Wealth Services LLC's holdings in Airbnb were worth $2,391,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in Airbnb by 777.7% in the fourth quarter. Teacher Retirement System of Texas now owns 25,954 shares of the company's stock worth $3,411,000 after purchasing an additional 22,997 shares during the last quarter. LPL Financial LLC lifted its stake in Airbnb by 19.0% in the fourth quarter. LPL Financial LLC now owns 267,517 shares of the company's stock worth $35,226,000 after purchasing an additional 42,725 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in Airbnb in the fourth quarter worth $416,000. Corebridge Financial Inc. lifted its stake in Airbnb by 2.7% in the fourth quarter. Corebridge Financial Inc. now owns 151,858 shares of the company's stock worth $19,956,000 after purchasing an additional 4,016 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in Airbnb by 10,419.6% in the fourth quarter. Zions Bancorporation N.A. now owns 19,882 shares of the company's stock worth $2,613,000 after purchasing an additional 19,693 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research report on Monday. B. Riley decreased their price objective on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Wedbush cut shares of Airbnb from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $150.00 to $135.00 in a research report on Friday, May 2nd. Finally, Citigroup decreased their price objective on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $141.50.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the transaction, the chief financial officer owned 485,080 shares in the company, valued at $59,873,424.40. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the transaction, the director owned 1,416,015 shares in the company, valued at approximately $182,184,489.90. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,650,658 shares of company stock worth $218,970,735 over the last quarter. Company insiders own 27.91% of the company's stock.

Airbnb Stock Up 1.4%

Shares of NASDAQ ABNB traded up $1.98 during midday trading on Thursday, hitting $141.81. The stock had a trading volume of 1,932,863 shares, compared to its average volume of 5,233,949. The business's 50 day moving average is $134.50 and its 200-day moving average is $130.93. The company has a market cap of $88.83 billion, a P/E ratio of 35.81, a PEG ratio of 2.61 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

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). The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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.