Financial Advocates Investment Management Buys New Position in Airbnb, Inc. (NASDAQ:ABNB)

Financial Advocates Investment Management purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,456 shares of the company’s stock, valued at approximately $323,000.

Several other large investors have also bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the third quarter valued at approximately $25,000. Hollencrest Capital Management grew its stake in Airbnb by 6,666.7% in 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 during the period. Berbice Capital Management LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Airbnb during the 3rd quarter worth $30,000. Finally, Quarry LP purchased a new position in shares of Airbnb in the 3rd quarter worth about $55,000. 80.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a report on Tuesday, February 4th. UBS Group raised their price target on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Benchmark reiterated a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Phillip Securities reissued a “reduce” rating and issued a $120.00 target price on shares of Airbnb in a research report on Tuesday, November 12th. Finally, Robert W. Baird boosted their target price on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average price target of $139.63.

Airbnb Stock Performance

Shares of ABNB stock opened at $134.98 on Monday. The company’s fifty day moving average price is $132.98 and its 200-day moving average price is $129.94. The stock has a market cap of $85.57 billion, a PE ratio of 47.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. 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 data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $2.39 EPS. On average, equities analysts expect that Airbnb, Inc. will post 3.97 EPS for the current fiscal year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total value of $68,005.00. Following the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at approximately $1,765,525,022. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,417,704 shares of company stock worth $187,654,829. 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.