NorthRock Partners LLC Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

NorthRock Partners LLC purchased a new position 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. The firm purchased 26,306 shares of the company's stock, valued at approximately $3,457,000.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Canaccord Genuity Group lowered their target price on Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group upgraded Airbnb from a "hold" rating to a "buy" rating and lifted their target price for the company from $165.00 to $185.00 in a research note on Monday, March 10th. Gordon Haskett upgraded Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price target on the stock in a research note on Friday, February 14th. Finally, Wedbush downgraded Airbnb from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $150.00 to $135.00 in a research note on Friday, May 2nd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $141.43.

Airbnb Price Performance

Shares of NASDAQ ABNB traded up $1.21 during trading on Friday, reaching $138.00. The company had a trading volume of 3,673,218 shares, compared to its average volume of 4,868,129. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market capitalization of $87.01 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The stock has a 50-day moving average price of $121.83 and a two-hundred day moving average price of $131.26. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results 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). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm earned $0.41 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 700 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $161.05, for a total value of $112,735.00. Following the completion of the transaction, the chief technology officer now directly owns 180,514 shares in the company, valued at approximately $29,071,779.70. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60. Following the completion of the transaction, the director now owns 2,294,870 shares of the company's stock, valued at $249,590,061.20. The trade was a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,533,331 shares of company stock worth $195,015,055. 27.83% of the stock is currently owned by insiders.

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.