Operose Advisors LLC Invests $58,000 in Airbnb, Inc. (NASDAQ:ABNB)

Operose Advisors LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 483 shares of the company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Square Financial Group LLC bought a new stake in Airbnb in the 4th quarter worth about $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC boosted its stake in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after acquiring an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after acquiring an additional 174 shares during the last quarter. Finally, SouthState Corp boosted its stake in Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company’s stock valued at $35,000 after acquiring an additional 201 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $121.02 on Monday. The company’s fifty day moving average price is $134.96 and its 200-day moving average price is $130.95. The firm has a market capitalization of $75.81 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.19 and a beta of 1.13. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 8,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the transaction, the chief executive officer owned 40,800 shares of the company’s stock, valued at approximately $5,235,864. This trade represents a 16.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on 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 transaction, the director directly owned 1,180,015 shares in the company, valued at approximately $164,494,091. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,671,023 shares of company stock valued at $223,195,427. Insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABNB. Morgan Stanley dropped their target price on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday. B. Riley dropped their target price on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated an “underweight” rating and issued a $100.00 target price on shares of Airbnb in a research note on Wednesday, May 14th. Canaccord Genuity Group dropped their target price on shares of Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial reiterated a “sell” rating and issued a $106.00 target price (down from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average price target of $143.59.

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.