ARQ Wealth Advisors LLC Buys 6,912 Shares of Airbnb, Inc. $ABNB

ARQ Wealth Advisors LLC grew its stake in Airbnb, Inc. (NASDAQ:ABNBFree Report) by 364.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,807 shares of the company’s stock after buying an additional 6,912 shares during the period. ARQ Wealth Advisors LLC’s holdings in Airbnb were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Diversify Wealth Management LLC boosted its holdings in Airbnb by 55.8% in the first quarter. Diversify Wealth Management LLC now owns 63,348 shares of the company’s stock valued at $8,886,000 after acquiring an additional 22,678 shares during the last quarter. UNIVEST FINANCIAL Corp raised its holdings in Airbnb by 12.4% during the 1st quarter. UNIVEST FINANCIAL Corp now owns 22,718 shares of the company’s stock worth $2,869,000 after purchasing an additional 2,501 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Airbnb by 10.9% during the 1st quarter. Citizens Financial Group Inc. RI now owns 24,794 shares of the company’s stock worth $3,131,000 after purchasing an additional 2,438 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Airbnb by 673.4% in the 1st quarter. Fifth Third Bancorp now owns 95,982 shares of the company’s stock worth $12,121,000 after purchasing an additional 83,571 shares during the period. Finally, Banyan Capital Management Inc. lifted its position in shares of Airbnb by 1.8% in the 1st quarter. Banyan Capital Management Inc. now owns 39,601 shares of the company’s stock worth $5,001,000 after purchasing an additional 682 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 2,460 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $150.00, for a total transaction of $369,000.00. Following the transaction, the director directly owned 2,595,119 shares of the company’s stock, valued at approximately $389,267,850. This represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth I. Chenault sold 8,346 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the transaction, the director owned 40,879 shares in the company, valued at approximately $6,131,850. The trade was a 16.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,325,429 shares of company stock valued at $321,925,435. 27.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of Airbnb in a research report on Friday, May 22nd. Citigroup reaffirmed an “outperform” rating on shares of Airbnb in a research report on Friday, May 8th. DA Davidson increased their price target on Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Barclays lifted their price objective on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Benchmark upped their target price on Airbnb from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.36.

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More Airbnb News

Here are the key news stories impacting Airbnb this week:

Airbnb Stock Up 1.2%

Shares of Airbnb stock traded up $1.73 during trading on Friday, reaching $148.62. 2,635,765 shares of the company traded hands, compared to its average volume of 3,454,486. The firm has a market capitalization of $89.57 billion, a PE ratio of 36.61, a P/E/G ratio of 1.59 and a beta of 1.14. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $150.19. The company has a 50 day moving average price of $138.47 and a 200-day moving average price of $134.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNBGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. As a group, equities research analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

About Airbnb

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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