Sequoia Financial Advisors LLC Acquires 3,384 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Sequoia Financial Advisors LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 56.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,369 shares of the company's stock after acquiring an additional 3,384 shares during the period. Sequoia Financial Advisors LLC's holdings in Airbnb were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ABNB. New World Advisors LLC grew its stake in Airbnb by 16.7% in the first quarter. New World Advisors LLC now owns 3,454 shares of the company's stock valued at $413,000 after acquiring an additional 494 shares during the period. Generate Investment Management Ltd bought a new position in shares of Airbnb in the 1st quarter worth $3,691,000. Alpine Bank Wealth Management acquired a new stake in Airbnb in the 1st quarter valued at $60,000. Golden State Wealth Management LLC increased its stake in Airbnb by 366.3% during the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company's stock valued at $106,000 after purchasing an additional 696 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Airbnb by 0.8% during the first quarter. Bessemer Group Inc. now owns 189,448 shares of the company's stock worth $22,631,000 after buying an additional 1,486 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Down 0.0%

Shares of NASDAQ ABNB traded down $0.02 during midday trading on Wednesday, hitting $135.39. The company's stock had a trading volume of 2,667,460 shares, compared to its average volume of 5,034,312. The firm has a market capitalization of $84.81 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.54 and a beta of 1.13. The stock has a fifty day moving average price of $130.82 and a 200 day moving average price of $130.38. 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 data 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 business had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 40,800 shares of the company's stock, valued at approximately $5,235,864. This represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the transaction, the director directly owned 1,416,015 shares of the company's stock, valued at approximately $182,184,489.90. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,607,528 shares of company stock worth $201,688,571. 27.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABNB. Citigroup reduced their price objective on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a report on Monday, May 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. B. Riley cut their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Tigress Financial boosted their price objective on Airbnb from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, DA Davidson upgraded Airbnb from a "neutral" rating to a "buy" rating and dropped their target price for the company from $170.00 to $155.00 in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Airbnb has a consensus rating of "Hold" and a consensus target price of $141.23.

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.