Moors & Cabot Inc. Purchases New Position in Airbnb, Inc. (NASDAQ:ABNB)

Moors & Cabot Inc. purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,387 shares of the company’s stock, valued at approximately $644,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC raised its holdings in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Finally, BankPlus Trust Department purchased a new position in shares of Airbnb during the first quarter valued at approximately $43,000. Institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $139.40, for a total value of $32,898,400.00. Following the transaction, the director owned 1,180,015 shares of the company’s stock, valued at approximately $164,494,091. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the completion of the transaction, the chief financial officer directly owned 467,611 shares in the company, valued at $61,855,583.08. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,649,308 shares of company stock valued at $218,906,636. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

ABNB opened at $128.02 on Monday. The firm has a market cap of $80.19 billion, a P/E ratio of 32.33, a PEG ratio of 2.38 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a 50 day simple moving average of $135.13 and a two-hundred day simple moving average of $131.21.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm posted $0.41 EPS. Airbnb’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BNP Paribas raised shares of Airbnb to a “hold” rating in a report on Wednesday, July 16th. Citigroup decreased their price objective on shares of Airbnb from $170.00 to $155.00 and set a “buy” rating for the company in a report on Monday, May 5th. Truist Financial reissued a “sell” rating and set a $106.00 price objective (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Piper Sandler decreased their price objective on shares of Airbnb from $145.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, UBS Group boosted their target price on shares of Airbnb from $137.00 to $156.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $142.10.

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.