Wealth Enhancement Advisory Services LLC Buys 20,753 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 39.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 73,246 shares of the company's stock after acquiring an additional 20,753 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Airbnb were worth $8,750,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock worth $1,244,514,000 after acquiring an additional 72,991 shares during the last quarter. Clearbridge Investments LLC raised its position in Airbnb by 147.3% in the 4th 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 during the period. Northern Trust Corp raised its position in Airbnb by 8.4% in the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after purchasing an additional 331,607 shares during the period. Renaissance Technologies LLC raised its position in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after purchasing an additional 558,856 shares during the period. Finally, Norges Bank purchased a new position in Airbnb in the 4th quarter worth $433,374,000. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Airbnb from a "hold" rating to a "buy" rating and lifted their target price for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Wells Fargo & Company boosted their price objective on shares of Airbnb from $100.00 to $104.00 and gave the company an "underweight" rating in a research report on Friday, May 2nd. DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $170.00 to $155.00 in a research report on Wednesday, April 30th. Phillip Securities cut shares of Airbnb from a "hold" rating to a "moderate sell" rating in a research report on Friday, May 9th. Finally, Cantor Fitzgerald restated an "underweight" rating and issued a $100.00 price objective on shares of Airbnb in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and a consensus target price of $141.23.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $137.13, for a total value of $82,278.00. Following the transaction, the chief technology officer now directly owns 213,377 shares in the company, valued at approximately $29,260,388.01. This trade 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 is accessible through this hyperlink. Also, CEO Brian Chesky sold 38,459 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total transaction 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. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,409,487 shares of company stock worth $175,694,222. Company insiders own 27.83% of the company's stock.

Airbnb Stock Down 0.9%

Shares of Airbnb stock opened at $130.53 on Tuesday. The company has a market cap of $81.77 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. The company's 50 day moving average is $128.45 and its 200 day moving average is $130.49. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month 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 for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The company 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 for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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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