Victory Capital Management Inc. Has $104.50 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Victory Capital Management Inc. increased its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 874,740 shares of the company's stock after purchasing an additional 91,487 shares during the period. Victory Capital Management Inc. owned 0.14% of Airbnb worth $104,496,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Park Square Financial Group LLC acquired a new stake in Airbnb in the 4th quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new stake in Airbnb in the 4th quarter valued at approximately $28,000. Graney & King LLC acquired a new stake in Airbnb in the 4th quarter valued at approximately $32,000. Stonebridge Financial Group LLC increased its position in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Finally, Bartlett & CO. Wealth Management LLC increased its position in Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the period. Institutional investors own 80.76% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ABNB. DA Davidson upgraded Airbnb from a "neutral" rating to a "buy" rating and lowered their target price for the company from $170.00 to $155.00 in a research report on Wednesday, April 30th. Wedbush cut Airbnb from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $150.00 to $135.00 in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Finally, Benchmark lowered their price target on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Airbnb has an average rating of "Hold" and an average target price of $141.50.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $137.21, for a total transaction of $82,326.00. Following the completion of the sale, the chief technology officer owned 210,977 shares of the company's stock, valued at approximately $28,948,154.17. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the sale, the chief financial officer directly owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,629,043 shares of company stock valued at $210,678,753. Insiders own 27.91% of the company's stock.

Airbnb Stock Up 0.0%

Shares of Airbnb stock traded up $0.04 during midday trading on Friday, hitting $139.34. The company's stock had a trading volume of 2,981,869 shares, compared to its average volume of 5,026,000. The firm has a market capitalization of $87.28 billion, a P/E ratio of 35.19, a PEG ratio of 2.56 and a beta of 1.13. The stock has a 50-day simple moving average of $134.10 and a 200-day simple moving average of $130.74. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.