Allworth Financial LP Increases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Allworth Financial LP raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,814 shares of the company’s stock after buying an additional 278 shares during the period. Allworth Financial LP’s holdings in Airbnb were worth $373,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Airbnb in the fourth quarter worth approximately $25,000. Berbice Capital Management LLC bought a new position in shares of Airbnb in the fourth quarter worth approximately $26,000. Hollencrest Capital Management boosted its position in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Airbnb in the third quarter worth approximately $30,000. Finally, Quarry LP bought a new position in shares of Airbnb in the third quarter worth approximately $55,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of recent analyst reports. Benchmark upped their price target on shares of Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target for the company in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Hsbc Global Res upgraded shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $147.00.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $161.05, for a total value of $112,735.00. Following the transaction, the chief technology officer now owns 180,514 shares of the company’s stock, valued at $29,071,779.70. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the completion of the transaction, the director now directly owns 1,071,430 shares in the company, valued at $138,160,898.50. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,950,540 shares of company stock valued at $275,598,944 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Trading Down 5.9 %

Shares of ABNB opened at $146.07 on Friday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a market cap of $92.60 billion, a P/E ratio of 35.37, a P/E/G ratio of 3.81 and a beta of 1.12. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $135.45 and its 200-day simple moving average is $130.96.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, analysts expect that Airbnb, Inc. will post 4.31 EPS 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.