MQS Management LLC Takes $334,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

MQS Management LLC acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,793 shares of the company's stock, valued at approximately $334,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Airbnb in the 4th quarter worth approximately $1,445,000. Ritholtz Wealth Management grew its holdings in shares of Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock valued at $636,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Airbnb by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock valued at $6,115,000 after buying an additional 228 shares during the last quarter. Spire Wealth Management increased its position in shares of Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after acquiring an additional 260 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Airbnb by 39.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock worth $8,750,000 after acquiring an additional 20,753 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ ABNB traded up $0.17 during mid-day trading on Wednesday, hitting $136.71. The stock had a trading volume of 3,319,305 shares, compared to its average volume of 5,033,160. The firm's 50 day moving average is $133.84 and its 200 day moving average is $130.69. The stock has a market capitalization of $85.64 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.56 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted 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 business had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The business's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $137.21, for a total transaction of $82,326.00. Following the completion of the sale, the chief technology officer owned 210,977 shares in the company, valued at $28,948,154.17. This trade represents a 0.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. Insiders sold 1,629,043 shares of company stock valued at $210,678,753 in the last three months. 27.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Benchmark dropped their price target on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Canaccord Genuity Group reduced their price target on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Morgan Stanley upped their price objective on shares of Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a report on Thursday, April 17th. Finally, JMP Securities reissued a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Airbnb currently has an average rating of "Hold" and an average target price 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.