Valmark Advisers Inc. Invests $481,000 in Airbnb, Inc. (NASDAQ:ABNB)

Valmark Advisers Inc. acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,024 shares of the company's stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Oppenheimer & Co. Inc. grew its stake in shares of Airbnb by 2.1% in the first quarter. Oppenheimer & Co. Inc. now owns 31,231 shares of the company's stock worth $3,731,000 after acquiring an additional 642 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Airbnb by 12.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 168,559 shares of the company's stock valued at $20,136,000 after buying an additional 19,247 shares during the period. Continuum Advisory LLC increased its holdings in Airbnb by 16.6% in the 1st quarter. Continuum Advisory LLC now owns 1,382 shares of the company's stock valued at $165,000 after buying an additional 197 shares during the period. Flagship Harbor Advisors LLC increased its holdings in Airbnb by 54.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 8,845 shares of the company's stock valued at $1,057,000 after buying an additional 3,116 shares during the period. Finally, Crumly & Associates Inc. increased its holdings in Airbnb by 7.1% in the 1st quarter. Crumly & Associates Inc. now owns 3,772 shares of the company's stock valued at $451,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Wall Street Analyst Weigh In

ABNB has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Evercore ISI lowered their price target on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Tigress Financial boosted their price target on shares of Airbnb from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, March 14th. Benchmark lowered their price target on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley boosted their target price 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. 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 currently has an average rating of "Hold" and an average price target of $141.23.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 38,459 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $120.44, for a total value of $4,632,001.96. Following the completion of the transaction, the chief executive officer now owns 11,731,685 shares in the company, valued at $1,412,964,141.40. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $132.27, for a total transaction of $79,362.00. Following the completion of the transaction, the chief technology officer now owns 212,777 shares of the company's stock, valued at $28,144,013.79. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,410,087 shares of company stock worth $175,773,584. 27.83% of the stock is currently owned by company insiders.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $132.15 on Wednesday. The stock has a market cap of $82.78 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.44 and a beta of 1.14. The firm has a 50 day moving average price of $128.80 and a 200 day moving average price of $130.50. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued 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). The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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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