2,000 Shares in Airbnb, Inc. (NASDAQ:ABNB) Purchased by King Wealth Management Group

King Wealth Management Group acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABNB. Transcendent Capital Group LLC purchased a new position in Airbnb in the 1st quarter valued at about $25,000. New Millennium Group LLC purchased a new position in shares of Airbnb in the second quarter valued at approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Airbnb in the first quarter worth approximately $33,000. Cultivar Capital Inc. purchased a new stake in shares of Airbnb during the second quarter worth approximately $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in Airbnb in the 3rd quarter valued at $25,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

ABNB stock opened at $134.56 on Friday. The business’s 50-day moving average is $130.62 and its two-hundred day moving average is $136.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $86.34 billion, a P/E ratio of 47.21, a P/E/G ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the firm earned $2.39 EPS. Analysts anticipate that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABNB. Royal Bank of Canada dropped their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Truist Financial decreased their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Mizuho dropped their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Finally, B. Riley cut their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $139.31.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the transaction, the director now owns 16,472 shares in the company, valued at approximately $2,259,958.40. The trade was a 41.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 417,806 shares of company stock worth $51,809,831. Corporate insiders own 27.83% of the company’s stock.

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.