NorthRock Partners LLC Purchases New Position in Airbnb, Inc. (NASDAQ:ABNB)

NorthRock Partners LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 26,306 shares of the company’s stock, valued at approximately $3,457,000.

Several other large investors also recently added to or reduced their stakes in the business. Occudo Quantitative Strategies LP bought a new stake in Airbnb in the fourth quarter worth $4,480,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Airbnb during the 4th quarter worth about $657,000. MJP Associates Inc. ADV increased its holdings in shares of Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock valued at $490,000 after acquiring an additional 67 shares during the last quarter. LRI Investments LLC raised its stake in shares of Airbnb by 78.2% in the 4th quarter. LRI Investments LLC now owns 866 shares of the company’s stock valued at $114,000 after acquiring an additional 380 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its holdings in Airbnb by 88.9% in the 4th quarter. Invenomic Capital Management LP now owns 74,616 shares of the company’s stock worth $9,805,000 after purchasing an additional 35,119 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at approximately $26,046,300. The trade was a 52.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the sale, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,983,669 shares of company stock valued at $266,947,699 in the last 90 days. 27.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Baird R W raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research report on Friday, May 9th. Evercore ISI dropped their price target on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Wedbush lowered Airbnb from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Finally, Benchmark lowered their price target on shares of Airbnb from $178.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.43.

Airbnb Trading Up 2.9%

ABNB opened at $138.05 on Wednesday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company has a market cap of $87.05 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a 50 day simple moving average of $121.42 and a 200 day simple moving average of $131.21.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.