Avory & Company LLC Acquires Shares of 15,849 Airbnb, Inc. $ABNB

Avory & Company LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,849 shares of the company’s stock, valued at approximately $2,001,000. Airbnb accounts for about 2.6% of Avory & Company LLC’s holdings, making the stock its 13th biggest position.

A number of other hedge funds have also recently modified their holdings of ABNB. ORG Partners LLC raised its position in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in Airbnb by 143.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Entrust Financial LLC acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. grew its stake in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. Finally, Wiser Advisor Group LLC purchased a new position in shares of Airbnb during the 3rd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABNB shares. Citizens Jmp increased their price target on shares of Airbnb from $160.00 to $170.00 and gave the stock a “market outperform” rating in a report on Friday, May 8th. Scotiabank initiated coverage on shares of Airbnb in a research report on Monday, May 4th. They issued an “outperform” rating for the company. Wedbush upgraded Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their price target on Airbnb from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Needham & Company LLC began coverage on Airbnb in a research report on Monday, May 4th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.36.

Insider Activity

In related news, Director Kenneth I. Chenault sold 8,346 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the completion of the sale, the director directly owned 40,879 shares in the company, valued at approximately $6,131,850. This trade represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares in the company, valued at $389,250,550.36. This trade represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,281,621 shares of company stock worth $315,312,325. Company insiders own 27.21% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $147.65 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day moving average is $137.99 and its two-hundred day moving average is $133.70. The firm has a market capitalization of $88.99 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $150.19.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.