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

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

Several other institutional investors also recently bought and sold shares of ABNB. CIBC Asset Management Inc boosted its stake in Airbnb by 5.5% during the third quarter. CIBC Asset Management Inc now owns 136,382 shares of the company’s stock valued at $17,295,000 after buying an additional 7,148 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Airbnb by 6.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,223 shares of the company’s stock worth $282,000 after acquiring an additional 142 shares in the last quarter. Intellectus Partners LLC boosted its position in shares of Airbnb by 0.9% during the 3rd quarter. Intellectus Partners LLC now owns 13,930 shares of the company’s stock valued at $1,767,000 after acquiring an additional 125 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Airbnb by 3.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,809 shares of the company’s stock valued at $1,624,000 after purchasing an additional 400 shares in the last quarter. Finally, Metis Global Partners LLC increased its position in Airbnb by 4.3% in the third quarter. Metis Global Partners LLC now owns 19,584 shares of the company’s stock worth $2,483,000 after purchasing an additional 815 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $134.56 on Friday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a market cap of $86.34 billion, a PE ratio of 47.21, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The business has a 50-day simple moving average of $130.62 and a two-hundred day simple moving average of $136.94.

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 net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $2.39 EPS. As a group, equities analysts expect that Airbnb, Inc. will post 4.04 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction 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. This trade represents a 41.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This trade represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 417,806 shares of company stock valued at $51,809,831 in the last ninety days. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Raymond James started coverage on Airbnb in a research note on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective for the company. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Phillip Securities restated a “reduce” rating and issued a $120.00 price target on shares of Airbnb in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus price target of $139.31.

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.