Shorepath Capital Management LLC Takes $4.24 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Shorepath Capital Management LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,154 shares of the company’s stock, valued at approximately $4,241,000. Airbnb accounts for approximately 3.8% of Shorepath Capital Management LLC’s holdings, making the stock its 15th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA raised its stake in shares of Airbnb by 34.7% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock worth $4,304,000 after acquiring an additional 8,140 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Airbnb by 4.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after buying an additional 333 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after buying an additional 22,551 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Airbnb by 27.5% in the fourth quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock worth $172,742,000 after acquiring an additional 273,191 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Airbnb during the fourth quarter worth about $726,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on shares of Airbnb from $135.00 to $151.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Truist Financial lifted their price objective on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $200.00 in a research report on Wednesday, April 24th. Citigroup lowered their price target on Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Tigress Financial increased their price objective on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $152.38.

Airbnb Price Performance

ABNB traded down $0.13 during midday trading on Friday, hitting $145.97. 2,754,612 shares of the company traded hands, compared to its average volume of 3,461,855. The business has a 50 day simple moving average of $152.42 and a two-hundred day simple moving average of $150.00. Airbnb, Inc. has a 52-week low of $113.24 and a 52-week high of $170.10. The company has a market capitalization of $94.01 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.80 and a beta of 1.18. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts forecast that Airbnb, Inc. will post 4.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 78,682 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the completion of the transaction, the chief technology officer now directly owns 144,331 shares of the company’s stock, valued at approximately $24,435,238.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total transaction of $96,426.00. Following the transaction, the chief technology officer now directly owns 143,131 shares in the company, valued at approximately $23,002,583.01. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 78,682 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the completion of the sale, the chief technology officer now owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The disclosure for this sale can be found here. Insiders have sold a total of 388,612 shares of company stock worth $59,476,075 over the last quarter. 27.83% of the stock is currently owned by corporate insiders.

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.