Sovran Advisors LLC Buys New Shares in Airbnb, Inc. (NASDAQ:ABNB)

Sovran Advisors LLC purchased a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,261 shares of the company's stock, valued at approximately $255,000.

A number of other institutional investors have also recently bought and sold shares of the stock. MJP Associates Inc. ADV raised its stake in Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock valued at $490,000 after purchasing an additional 67 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Airbnb by 1.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company's stock valued at $728,000 after buying an additional 78 shares in the last quarter. Ellevest Inc. raised its position in Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock valued at $349,000 after buying an additional 80 shares during the period. TD Waterhouse Canada Inc. lifted its stake in Airbnb by 7.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after acquiring an additional 90 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Airbnb by 3.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,490 shares of the company's stock worth $327,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB traded up $1.11 during midday trading on Thursday, reaching $136.50. The stock had a trading volume of 2,628,584 shares, compared to its average volume of 5,038,024. The stock has a market capitalization of $85.50 billion, a P/E ratio of 34.47, a PEG ratio of 2.54 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm's fifty day simple moving average is $131.16 and its 200-day simple moving average is $130.42.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.33, for a total value of $78,198.00. Following the completion of the sale, the chief technology officer directly owned 212,177 shares of the company's stock, valued at approximately $27,653,028.41. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the transaction, the chief financial officer directly owned 467,611 shares in the company, valued at $61,855,583.08. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,607,528 shares of company stock worth $201,688,571 in the last 90 days. 27.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ABNB shares. JPMorgan Chase & Co. dropped their target price on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. 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 research note on Thursday, April 17th. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and an average price target of $141.23.

Airbnb 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.