FORA Capital LLC Buys Shares of 22,497 Airbnb, Inc. (NASDAQ:ABNB)

FORA Capital LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,497 shares of the company’s stock, valued at approximately $2,956,000.

Several other hedge funds also recently modified their holdings of ABNB. Golden State Wealth Management LLC acquired a new stake in Airbnb in the fourth quarter valued at $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb during the 4th quarter valued at approximately $26,000. Graney & King LLC acquired a new position in shares of Airbnb in the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC bought a new stake in shares of Airbnb in the 4th quarter valued at $44,000. Finally, Cromwell Holdings LLC increased its position in shares of Airbnb by 82.5% during the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Trading Up 2.7 %

Shares of Airbnb stock opened at $126.39 on Friday. The company has a 50 day simple moving average of $121.81 and a two-hundred day simple moving average of $131.24. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. 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 market cap of $79.69 billion, a PE ratio of 30.60, a PEG ratio of 3.52 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Airbnb’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $122.84, for a total value of $26,322,769.40. Following the transaction, the director now owns 1,866,300 shares in the company, valued at $229,256,292. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 190,301 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $140.51, for a total transaction of $26,739,193.51. Following the completion of the sale, the chief executive officer now directly owns 12,231,685 shares of the company’s stock, valued at $1,718,674,059.35. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,173,970 shares of company stock valued at $293,686,892. 27.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on ABNB shares. Royal Bank of Canada cut their price target on shares of Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a report on Friday, May 2nd. JMP Securities reiterated a “market perform” rating on shares of Airbnb in a research note on Friday, May 2nd. Piper Sandler cut their price objective on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Argus raised Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.31.

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.