Lmcg Investments LLC Purchases New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Lmcg Investments LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,330 shares of the company's stock, valued at approximately $4,946,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company's stock worth $4,697,896,000 after acquiring an additional 10,301,746 shares during the period. Northern Trust Corp raised its position in Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company's stock worth $598,745,000 after acquiring an additional 1,276,456 shares during the period. Legal & General Group Plc raised its position in Airbnb by 5.0% in the third quarter. Legal & General Group Plc now owns 2,568,807 shares of the company's stock worth $352,466,000 after acquiring an additional 121,651 shares during the period. Alphinity Investment Management Pty Ltd raised its position in Airbnb by 48.3% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company's stock worth $339,926,000 after acquiring an additional 813,074 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Airbnb by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,423,537 shares of the company's stock worth $329,940,000 after acquiring an additional 122,142 shares during the period. Institutional investors own 80.76% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. DA Davidson reiterated a "neutral" rating and issued a $145.00 price target on shares of Airbnb in a research report on Thursday, May 9th. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Thursday, May 9th. B. Riley Financial began coverage on Airbnb in a research report on Wednesday, April 3rd. They set a "neutral" rating and a $150.00 target price for the company. BMO Capital Markets boosted their price target on Airbnb from $135.00 to $151.00 and gave the stock a "market perform" rating in a report on Thursday, May 9th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $152.13.

Airbnb Trading Down 1.6 %

ABNB traded down $2.43 during trading hours on Tuesday, reaching $146.70. 4,149,804 shares of the company's stock traded hands, compared to its average volume of 4,601,447. The firm has a 50-day moving average price of $160.77 and a 200 day moving average price of $146.52. Airbnb, Inc. has a 52-week low of $103.55 and a 52-week high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $94.93 billion, a PE ratio of 19.64, a PEG ratio of 1.81 and a beta of 1.24.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.18. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Airbnb's revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.64 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the sale, the chief technology officer now directly owns 146,131 shares of the company's stock, valued at approximately $22,695,605.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the sale, the chief technology officer now directly owns 146,131 shares of the company's stock, valued at approximately $22,695,605.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total value of $97,200.00. Following the sale, the chief technology officer now directly owns 219,904 shares of the company's stock, valued at $35,624,448. The disclosure for this sale can be found here. Insiders sold a total of 397,474 shares of company stock worth $63,809,871 in the last quarter. 27.83% of the stock is owned by company insiders.

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.