Oppenheimer Asset Management Inc. Acquires 19,247 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,559 shares of the company's stock after acquiring an additional 19,247 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Airbnb were worth $20,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABNB. Park Square Financial Group LLC bought a new stake in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Airbnb in the fourth quarter valued at approximately $28,000. Graney & King LLC purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC bought a new stake in Airbnb during the fourth quarter worth $44,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Airbnb during the fourth quarter worth $49,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

ABNB stock traded up $4.05 during mid-day trading on Thursday, reaching $133.72. 5,137,007 shares of the company traded hands, compared to its average volume of 5,029,009. The company has a fifty day moving average price of $129.56 and a 200-day moving average price of $130.47. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market capitalization of $83.76 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.43 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 EPS 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 for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Airbnb's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of Airbnb from $100.00 to $104.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. Wedbush cut shares of Airbnb from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Truist Financial reiterated a "sell" rating and issued a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Finally, Benchmark dropped their target price on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $141.23.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the completion of the sale, the director now directly owns 944,015 shares of the company's stock, valued at approximately $122,212,181.90. The trade was a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $137.13, for a total value of $82,278.00. Following the completion of the transaction, the chief technology officer now directly owns 213,377 shares in the company, valued at approximately $29,260,388.01. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,646,087 shares of company stock valued at $206,326,144 in the last quarter. Corporate insiders own 27.91% of the company's stock.

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.