Wealth Alliance LLC Acquires 3,158 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Wealth Alliance LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 126.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,654 shares of the company's stock after acquiring an additional 3,158 shares during the period. Wealth Alliance LLC's holdings in Airbnb were worth $675,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ABNB. Intech Investment Management LLC raised its stake in Airbnb by 121.3% during the 4th quarter. Intech Investment Management LLC now owns 7,808 shares of the company's stock valued at $1,026,000 after purchasing an additional 4,279 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Airbnb by 777.7% during the 4th quarter. Teacher Retirement System of Texas now owns 25,954 shares of the company's stock valued at $3,411,000 after purchasing an additional 22,997 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Airbnb by 43.8% during the 4th quarter. Mizuho Securities USA LLC now owns 41,027 shares of the company's stock valued at $5,391,000 after purchasing an additional 12,495 shares during the last quarter. Sei Investments Co. raised its stake in Airbnb by 1.0% during the 4th quarter. Sei Investments Co. now owns 738,693 shares of the company's stock valued at $97,072,000 after purchasing an additional 7,531 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Airbnb during the 4th quarter valued at $25,204,000. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Up 0.0%

Shares of NASDAQ ABNB opened at $139.34 on Monday. The firm has a market capitalization of $87.28 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.61 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 50-day moving average is $134.35 and its 200-day moving average is $130.79.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued 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). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the business posted $0.41 EPS. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the firm'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 sale, the director directly owned 1,416,015 shares in the company, valued at approximately $182,184,489.90. This trade represents a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $123.43, for a total transaction of $771,437.50. Following the sale, the chief financial officer owned 485,080 shares in the company, valued at $59,873,424.40. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,629,043 shares of company stock valued at $210,678,753 in the last 90 days. 27.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and cut their target price for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Phillip Securities cut shares of Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. Morgan Stanley increased 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. Finally, Canaccord Genuity Group dropped their price objective on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $141.50.

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.

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