Procyon Advisors LLC Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Procyon Advisors LLC boosted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 106.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,482 shares of the company’s stock after acquiring an additional 2,829 shares during the period. Procyon Advisors LLC’s holdings in Airbnb were worth $655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in Airbnb in the 4th quarter valued at $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the 4th quarter valued at $28,000. Graney & King LLC acquired a new position in Airbnb in the 4th quarter valued at $32,000. Finally, Whipplewood Advisors LLC purchased a new position in Airbnb during the 4th quarter worth $44,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Up 2.4%

NASDAQ ABNB opened at $140.64 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a 50-day simple moving average of $123.61 and a 200-day simple moving average of $130.73. The firm has a market capitalization of $88.10 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14.

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

Insider Buying and Selling

In related news, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $126.60, for a total value of $4,869,162.60. Following the sale, the chief executive officer now directly owns 11,770,144 shares in the company, valued at $1,490,100,230.40. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 2,245 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total transaction of $300,897.35. Following the completion of the sale, the insider now owns 188,173 shares in the company, valued at $25,220,827.19. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,642,018 shares of company stock worth $202,748,249 in the last three months. 27.91% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABNB shares. Morgan Stanley raised their target price on shares of Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a research note on Thursday, April 17th. B. Riley reduced their price objective on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Phillip Securities lowered Airbnb from a “hold” rating to a “moderate sell” rating in a report on Friday, May 9th. Evercore ISI dropped their target price 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. Finally, HSBC raised Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $141.23.

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.