Objectivity Squared LLC Increases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Objectivity Squared LLC grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 38.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,616 shares of the company's stock after buying an additional 1,831 shares during the period. Airbnb accounts for 0.6% of Objectivity Squared LLC's portfolio, making the stock its 20th biggest position. Objectivity Squared LLC's holdings in Airbnb were worth $758,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ABNB. Pallas Capital Advisors LLC raised its stake in Airbnb by 111.5% in the first quarter. Pallas Capital Advisors LLC now owns 33,123 shares of the company's stock worth $3,957,000 after buying an additional 17,460 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Airbnb by 5.3% during the 1st quarter. Farther Finance Advisors LLC now owns 3,748 shares of the company's stock worth $454,000 after acquiring an additional 189 shares during the period. Moss Adams Wealth Advisors LLC bought a new position in shares of Airbnb in the 1st quarter worth approximately $202,000. Sherman Asset Management Inc. raised its position in shares of Airbnb by 44.0% in the 1st quarter. Sherman Asset Management Inc. now owns 628 shares of the company's stock worth $75,000 after acquiring an additional 192 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Airbnb by 4.0% in the 1st quarter. Park Avenue Securities LLC now owns 19,445 shares of the company's stock valued at $2,323,000 after purchasing an additional 750 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Airbnb from $100.00 to $104.00 and gave the stock an "underweight" rating in a research note on Friday, May 2nd. Royal Bank of Canada reduced their target price on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. DA Davidson raised shares of Airbnb from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, Citigroup decreased their target price on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Five investment analysts have rated the stock with a sell rating, sixteen have issued 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, Airbnb has a consensus rating of "Hold" and a consensus price target of $141.23.

Airbnb Trading Up 2.4%

Shares of NASDAQ:ABNB opened at $140.64 on Monday. The stock's 50-day simple moving average is $123.61 and its two-hundred day simple moving average is $130.71. The stock has a market capitalization of $88.10 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 3.52 and a beta of 1.14. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data 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). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. 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 previous year, the business posted $0.41 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 2,245 shares of Airbnb stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total transaction of $300,897.35. Following the transaction, the insider now directly owns 188,173 shares of the company's stock, valued at $25,220,827.19. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $130.18, for a total transaction of $91,126.00. Following the sale, the chief technology officer now owns 172,119 shares in the company, valued at approximately $22,406,451.42. The trade was a 0.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,642,018 shares of company stock valued at $202,748,249. Company insiders own 27.91% of the company's stock.

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.

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