Ables Iannone Moore & Associates Inc. Makes New $1.31 Million Investment in Airbnb, Inc. (NASDAQ:ABNB)

Ables Iannone Moore & Associates Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,615 shares of the company’s stock, valued at approximately $1,309,000. Airbnb accounts for about 1.0% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares during the last quarter. Edgewood Management LLC boosted its holdings in shares of Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Norges Bank acquired a new stake in shares of Airbnb in the fourth quarter valued at approximately $619,584,000. Northern Trust Corp boosted its holdings in shares of Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after acquiring an additional 1,276,456 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Airbnb by 5.0% in the third quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock valued at $352,466,000 after acquiring an additional 121,651 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Airbnb from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Thursday, May 9th. Citigroup cut their price objective on Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Truist Financial increased their price objective on Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $155.00 price objective (up previously from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average target price of $152.38.

Airbnb Price Performance

ABNB stock traded up $3.53 during trading hours on Monday, hitting $149.50. 5,156,367 shares of the stock traded hands, compared to its average volume of 4,438,884. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a one year low of $113.24 and a one year high of $170.10. The company has a market cap of $96.28 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.80 and a beta of 1.18. The stock has a 50-day simple moving average of $152.42 and a 200 day simple moving average of $150.00.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company posted $0.18 EPS. Airbnb’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts forecast that Airbnb, Inc. will post 4.67 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total transaction of $96,426.00. Following the completion of the sale, the chief technology officer now directly owns 143,131 shares of the company’s stock, valued at approximately $23,002,583.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total transaction of $96,426.00. Following the completion of the sale, the chief technology officer now directly owns 143,131 shares of the company’s stock, valued at approximately $23,002,583.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 78,682 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the sale, the chief technology officer now directly owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 388,612 shares of company stock valued at $59,476,075. Corporate insiders own 27.83% of the company’s stock.

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.