Frank Rimerman Advisors LLC Buys 215 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Frank Rimerman Advisors LLC increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,471 shares of the company’s stock after purchasing an additional 215 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Airbnb were worth $534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ritholtz Wealth Management raised its stake in shares of Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock worth $636,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Airbnb by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company’s stock valued at $6,115,000 after purchasing an additional 228 shares in the last quarter. Spire Wealth Management raised its holdings in Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company’s stock worth $109,000 after purchasing an additional 260 shares during the period. Golden State Wealth Management LLC raised its holdings in Airbnb by 366.3% in the first quarter. Golden State Wealth Management LLC now owns 886 shares of the company’s stock worth $106,000 after purchasing an additional 696 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Airbnb by 39.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company’s stock worth $8,750,000 after purchasing an additional 20,753 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the sale, the director owned 1,180,015 shares of the company’s stock, valued at $164,494,091. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total transaction of $826,750.00. Following the sale, the chief financial officer directly owned 467,611 shares of the company’s stock, valued at $61,855,583.08. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,671,023 shares of company stock valued at $223,195,427. 27.83% of the stock is owned by insiders.

Airbnb Trading Up 0.8%

Shares of Airbnb stock opened at $121.02 on Monday. The firm has a market capitalization of $75.81 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.19 and a beta of 1.13. The business has a fifty day simple moving average of $134.96 and a two-hundred day simple moving average of $130.95. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the business posted $0.86 EPS. Airbnb’s revenue was up 12.7% compared to the same quarter last year. Analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BMO Capital Markets set a $124.00 price target on Airbnb and gave the stock a “market perform” rating in a research report on Thursday. Benchmark dropped their target price on shares of Airbnb from $178.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Wedbush cut their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday. Canaccord Genuity Group lowered their price objective on shares of Airbnb from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Morgan Stanley lowered their price objective on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Airbnb has an average rating of “Hold” and an average price target of $143.59.

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.