Airbnb, Inc. (NASDAQ:ABNB) Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC boosted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 54.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,845 shares of the company’s stock after buying an additional 3,116 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Airbnb were worth $1,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Airbnb in the fourth quarter valued at about $433,374,000. Clearbridge Investments LLC grew its position in shares of Airbnb by 147.3% in the fourth 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 period. Two Sigma Advisers LP grew its position in shares of Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock valued at $179,991,000 after purchasing an additional 820,887 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Airbnb by 52.1% in the fourth quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock valued at $310,896,000 after purchasing an additional 809,964 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, 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 in the company, valued at approximately $249,590,061.20. This represents a 8.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $132.27, for a total transaction of $79,362.00. Following the completion of the transaction, the chief technology officer now owns 212,777 shares of the company’s stock, valued at approximately $28,144,013.79. The trade was a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,410,087 shares of company stock worth $175,773,584 in the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research report on Friday, May 9th. Truist Financial reiterated a “sell” rating and issued a $106.00 target price (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. B. Riley decreased their price target on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Evercore ISI decreased their price target on shares of Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley raised their price target on shares of Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $141.23.

Airbnb Stock Up 1.2%

NASDAQ ABNB opened at $132.15 on Wednesday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The stock has a market capitalization of $82.78 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. The firm has a 50 day moving average of $128.80 and a two-hundred day moving average of $130.50.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm earned $0.41 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal 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.