Procyon Advisors LLC Acquires 5,888 Shares of Airbnb, Inc. $ABNB

Procyon Advisors LLC lifted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 63.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,142 shares of the company’s stock after purchasing an additional 5,888 shares during the period. Procyon Advisors LLC’s holdings in Airbnb were worth $1,912,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Patton Fund Management Inc. lifted its position in Airbnb by 4.3% during the fourth quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock valued at $254,000 after purchasing an additional 77 shares in the last quarter. BOKF NA increased its position in Airbnb by 11.0% in the fourth quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after buying an additional 78 shares in the last quarter. Yoder Wealth Management Inc. increased its position in Airbnb by 0.3% in the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock worth $3,582,000 after buying an additional 84 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Airbnb by 1.0% in the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock worth $1,007,000 after buying an additional 86 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its stake in shares of Airbnb by 3.4% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 2,692 shares of the company’s stock worth $365,000 after buying an additional 89 shares during the period. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Performance

NASDAQ:ABNB opened at $146.33 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $150.19. The stock has a 50-day moving average price of $138.59 and a 200 day moving average price of $134.10. The stock has a market capitalization of $88.19 billion, a P/E ratio of 36.04, a P/E/G ratio of 1.59 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $2.62 billion. During the same period last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ABNB shares. Robert W. Baird lifted their price objective on Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Citigroup reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Wedbush upgraded shares of Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $170.00 price target on shares of Airbnb in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.36.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 2,460 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total value of $369,000.00. Following the transaction, the director owned 2,595,119 shares of the company’s stock, valued at approximately $389,267,850. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the transaction, the insider owned 81,677 shares of the company’s stock, valued at approximately $12,118,416.49. This represents a 14.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,325,429 shares of company stock valued at $321,925,435. Corporate insiders own 27.21% of the company’s stock.

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.