Beese Fulmer Investment Management Inc. Makes New $672,000 Investment in Airbnb, Inc. $ABNB

Beese Fulmer Investment Management Inc. acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,953 shares of the company’s stock, valued at approximately $672,000.

Several other hedge funds have also bought and sold shares of the stock. Canada Post Corp Registered Pension Plan boosted its position in Airbnb by 122.5% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 8,500 shares of the company’s stock worth $1,154,000 after purchasing an additional 4,680 shares in the last quarter. AlphaCore Capital LLC boosted its position in Airbnb by 53.7% in the 4th quarter. AlphaCore Capital LLC now owns 4,323 shares of the company’s stock worth $587,000 after purchasing an additional 1,511 shares in the last quarter. DNB Asset Management AS boosted its position in Airbnb by 3.8% in the 4th quarter. DNB Asset Management AS now owns 84,623 shares of the company’s stock worth $11,485,000 after purchasing an additional 3,074 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Airbnb by 1.6% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 5,678 shares of the company’s stock worth $771,000 after purchasing an additional 89 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its position in Airbnb by 69.6% in the 4th quarter. Convergence Investment Partners LLC now owns 6,779 shares of the company’s stock worth $920,000 after purchasing an additional 2,782 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $132.85 on Monday. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $147.25. The firm has a market capitalization of $80.07 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50 day moving average price is $133.56 and its 200-day moving average price is $129.62.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business earned $0.24 EPS. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities research analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on ABNB shares. Truist Financial upgraded Airbnb from a “sell” rating to a “hold” rating and upped their price objective for the stock from $107.00 to $129.00 in a research report on Thursday, March 26th. DA Davidson upped their price objective on Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. UBS Group increased their target price on Airbnb from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wedbush upgraded Airbnb from a “neutral” rating to a “neutral” rating in a research report on Monday, May 4th. Finally, Scotiabank initiated coverage on Airbnb in a research report on Monday, May 4th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Airbnb has an average rating of “Moderate Buy” and a consensus price target of $157.67.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $126.16, for a total value of $7,317,280.00. Following the transaction, the director owned 170,015 shares in the company, valued at approximately $21,449,092.40. This trade represents a 25.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nathan Blecharczyk sold 60,136 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $145.70, for a total value of $8,761,815.20. Following the completion of the transaction, the insider owned 11,920 shares in the company, valued at $1,736,744. The trade was a 83.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 459,838 shares of company stock valued at $62,185,245. 27.21% of the stock is owned by corporate insiders.

About Airbnb

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.