Pallas Capital Advisors LLC Grows Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Pallas Capital Advisors LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 111.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,123 shares of the company's stock after purchasing an additional 17,460 shares during the quarter. Pallas Capital Advisors LLC's holdings in Airbnb were worth $3,957,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Airbnb by 5.3% in the first 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 last quarter. Moss Adams Wealth Advisors LLC purchased a new stake in shares of Airbnb during the 1st quarter worth about $202,000. Sherman Asset Management Inc. raised its stake in shares of Airbnb by 44.0% in the 1st quarter. Sherman Asset Management Inc. now owns 628 shares of the company's stock valued at $75,000 after acquiring an additional 192 shares during the period. Park Avenue Securities LLC raised its stake in shares of Airbnb by 4.0% during the first 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. Finally, Wynn Capital LLC lifted its holdings in Airbnb by 17.7% in the 1st quarter. Wynn Capital LLC now owns 3,092 shares of the company's stock worth $369,000 after buying an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $140.64 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market capitalization of $88.10 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The stock has a fifty day moving average of $123.61 and a 200-day moving average of $130.71. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BTIG Research restated a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Evercore ISI lowered their price objective on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Susquehanna decreased their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Wedbush cut Airbnb from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Finally, HSBC upgraded Airbnb from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $141.23.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 2,245 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total value of $300,897.35. Following the completion of the sale, the insider now owns 188,173 shares in the company, valued at $25,220,827.19. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $132.52, for a total value of $28,397,048.20. Following the transaction, the director now directly owns 1,652,015 shares in the company, valued at $218,925,027.80. The trade was a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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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