Rafferty Asset Management LLC Purchases 12,918 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Rafferty Asset Management LLC increased its position in Airbnb, Inc. (NASDAQ:ABNB) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,053 shares of the company’s stock after buying an additional 12,918 shares during the quarter. Rafferty Asset Management LLC’s holdings in Airbnb were worth $21,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $123.43, for a total value of $771,437.50. Following the sale, the chief financial officer now directly owns 485,080 shares of the company’s stock, valued at approximately $59,873,424.40. This represents a 1.27% 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, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $122.84, for a total value of $26,322,769.40. Following the completion of the sale, the director now directly owns 1,866,300 shares in the company, valued at approximately $229,256,292. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,533,331 shares of company stock valued at $195,015,055. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABNB. Phillip Securities cut Airbnb from a “hold” rating to a “moderate sell” rating in a research note on Friday, May 9th. Susquehanna decreased their price target on Airbnb from $200.00 to $150.00 and set a “positive” rating on the stock in a research note on Monday, May 5th. Tigress Financial lifted their price target on Airbnb from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. UBS Group decreased their price target on Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Finally, HSBC raised Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $141.43.

Airbnb Trading Down 0.5%

NASDAQ ABNB opened at $136.79 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market capitalization of $86.25 billion, a PE ratio of 33.12, a P/E/G ratio of 3.52 and a beta of 1.14. The stock’s 50 day moving average is $121.58 and its 200 day moving average is $131.26.

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

Airbnb Company 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.