IHT Wealth Management LLC Grows Position in Airbnb, Inc. (NASDAQ:ABNB)

IHT Wealth Management LLC grew its stake in Airbnb, Inc. (NASDAQ:ABNB) by 51.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,776 shares of the company’s stock after purchasing an additional 5,703 shares during the period. IHT Wealth Management LLC’s holdings in Airbnb were worth $2,122,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABNB. Northwest Investment Counselors LLC bought a new stake in shares of Airbnb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its position in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. New Millennium Group LLC bought a new stake in Airbnb during the 2nd quarter valued at $28,000. Cultivar Capital Inc. purchased a new position in shares of Airbnb in the 2nd quarter valued at $30,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Airbnb in the 3rd quarter valued at $30,000. 80.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ABNB shares. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Barclays lifted their price target on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Sanford C. Bernstein lowered their price target on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Truist Financial lowered their price target on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Wedbush lifted their price target on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.94.

Insider Activity

In related news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This represents a 72.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 718,517 shares of company stock worth $91,910,057 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $139.07 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $134.44 and a two-hundred day moving average of $135.12. The firm has a market cap of $88.17 billion, a P/E ratio of 48.80, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted 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). The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the company earned $2.39 earnings per share. On average, analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Airbnb Company 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.