Verdence Capital Advisors LLC Increases Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Verdence Capital Advisors LLC increased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 131.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,354 shares of the company's stock after buying an additional 4,743 shares during the quarter. Verdence Capital Advisors LLC's holdings in Airbnb were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Airbnb by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after acquiring an additional 72,991 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Northern Trust Corp lifted its stake in Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after buying an additional 331,607 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after buying an additional 558,856 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $433,374,000. Institutional investors own 80.76% of the company's stock.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, July 7th. The shares were sold at an average price of $136.40, for a total transaction of $32,190,400.00. Following the completion of the sale, the director directly owned 708,015 shares of the company's stock, valued at approximately $96,573,246. The trade was a 25.00% 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, July 10th. The shares were sold at an average price of $137.21, for a total value of $82,326.00. Following the completion of the transaction, the chief technology officer directly owned 210,977 shares in the company, valued at approximately $28,948,154.17. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,629,043 shares of company stock valued at $210,678,753. Company insiders own 27.83% of the company's stock.

Airbnb Stock Performance

NASDAQ ABNB traded down $0.36 during trading hours on Monday, hitting $138.99. The company had a trading volume of 1,140,267 shares, compared to its average volume of 5,024,095. The firm has a market capitalization of $87.06 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.61 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a 50 day simple moving average of $134.35 and a 200 day simple moving average of $130.79.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business'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 company earned $0.41 earnings per share. On average, research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABNB. Wedbush lowered shares of Airbnb from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $150.00 to $135.00 in a research note on Friday, May 2nd. Phillip Securities lowered Airbnb from a "hold" rating to a "moderate sell" rating in a research report on Friday, May 9th. UBS Group cut their price target on Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Canaccord Genuity Group decreased their price objective on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $141.50.

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.