1,575 Shares in Airbnb, Inc. (NASDAQ:ABNB) Purchased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,575 shares of the company’s stock, valued at approximately $264,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Liberty Mutual Group Asset Management Inc. acquired a new stake in shares of Airbnb during the third quarter worth about $619,000. Proem Advisors LLC acquired a new stake in shares of Airbnb during the third quarter worth about $2,684,000. Kistler Tiffany Companies LLC lifted its holdings in shares of Airbnb by 502.4% during the third quarter. Kistler Tiffany Companies LLC now owns 253 shares of the company’s stock worth $42,000 after purchasing an additional 211 shares during the period. Gulf International Bank UK Ltd raised its position in Airbnb by 132.6% during the third quarter. Gulf International Bank UK Ltd now owns 20,350 shares of the company’s stock valued at $3,413,000 after acquiring an additional 11,602 shares in the last quarter. Finally, Portman Ltd purchased a new position in Airbnb during the third quarter valued at approximately $944,000. 31.39% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the company. Piper Sandler cut Airbnb from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $215.00 to $169.00 in a research report on Monday, January 10th. Jefferies Financial Group assumed coverage on Airbnb in a research report on Friday, January 7th. They issued a “buy” rating and a $220.00 price objective for the company. Cowen upgraded Airbnb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $220.00 in a research report on Tuesday, October 12th. Wells Fargo & Company boosted their price objective on Airbnb from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 8th. Finally, Royal Bank of Canada cut Airbnb from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $195.00 to $175.00 in a research report on Thursday, December 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus price target of $189.79.

ABNB opened at $163.99 on Friday. Airbnb, Inc. has a one year low of $129.71 and a one year high of $219.94. The company has a market cap of $104.20 billion and a P/E ratio of -13.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.86 and a current ratio of 1.86. The business’s 50-day simple moving average is $176.36 and its 200-day simple moving average is $164.28.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.38. Airbnb had a negative return on equity of 116.56% and a negative net margin of 80.74%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.06 billion. The business’s revenue was up 66.7% on a year-over-year basis. As a group, analysts predict that Airbnb, Inc. will post 0.41 earnings per share for the current fiscal year.

In related news, Director Jeffrey D. Jordan sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $166.25, for a total value of $1,662,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Catherine C. Powell sold 5,000 shares of the company’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,175,824 shares of company stock worth $215,894,601. Company insiders own 36.30% of the company’s stock.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform for stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms and luxury villas. The company was formerly known as AirBed & Breakfast, Inc and changed its name to Airbnb, Inc in November 2010.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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