Malaga Cove Capital LLC Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Malaga Cove Capital LLC increased its stake in Airbnb by 196.2%, acquiring an additional 3,933 shares, bringing its total holdings to 5,938 shares worth approximately $709,000.
• Airbnb's stock faced mixed reviews from analysts, with target price adjustments from several firms; for instance, Royal Bank Of Canada reduced their target from $160 to $140, while DA Davidson lifted their rating to "buy" but decreased the price objective to $155.
• Insider trading showed significant activity, with CEO Brian Chesky selling 8,000 shares, representing a 16.39% decrease in his position, amid broader insider sales totaling over 1.6 million shares in the past three months.

Malaga Cove Capital LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 196.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,938 shares of the company's stock after acquiring an additional 3,933 shares during the quarter. Malaga Cove Capital LLC's holdings in Airbnb were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ABNB. MJP Associates Inc. ADV increased its holdings in Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock worth $490,000 after purchasing an additional 67 shares during the period. Ellevest Inc. boosted its stake in shares of Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company's stock valued at $349,000 after buying an additional 80 shares during the period. Harbour Investments Inc. grew its position in shares of Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after buying an additional 83 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank Of Canada lowered their price target on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. DA Davidson raised shares of Airbnb from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $170.00 to $155.00 in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Susquehanna cut their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research note on Monday, May 5th. Finally, Evercore ISI decreased their price target on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $142.10.

Insider Buying and Selling at Airbnb

In other 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 value of $1,026,640.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the sale, the chief financial officer directly owned 485,080 shares in the company, valued at approximately $59,873,424.40. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,655,558 shares of company stock valued at $219,678,073. 27.91% of the stock is owned by company insiders.

Airbnb Trading Down 3.3%

Airbnb stock opened at $128.02 on Friday. The stock has a 50 day moving average of $135.13 and a two-hundred day moving average of $131.22. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market capitalization of $80.19 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 2.46 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share 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 company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business earned $0.41 earnings per share. Airbnb's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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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