Choate Investment Advisors Invests $233,000 in Airbnb, Inc. (NASDAQ:ABNB)

Choate Investment Advisors bought a new position in Airbnb, Inc. (NASDAQ:ABNB) during the first quarter, Holdings Channel reports. The fund bought 1,411 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC purchased a new position in shares of Airbnb in the fourth quarter worth approximately $26,000. Trust Co. of Vermont purchased a new position in Airbnb during the 4th quarter worth approximately $27,000. Bfsg LLC acquired a new stake in Airbnb during the 4th quarter valued at $27,000. Westend Capital Management LLC purchased a new stake in shares of Airbnb in the first quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Airbnb in the first quarter worth $33,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Price Performance

NASDAQ:ABNB traded up $0.44 during mid-day trading on Monday, reaching $147.22. 3,545,581 shares of the company were exchanged, compared to its average volume of 4,366,351. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The stock has a market cap of $94.82 billion, a PE ratio of 19.65, a PEG ratio of 1.82 and a beta of 1.18. Airbnb, Inc. has a 12 month low of $113.24 and a 12 month high of $170.10. The company has a fifty day moving average of $148.64 and a 200 day moving average of $151.62.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating 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 business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. Airbnb’s revenue was up 17.8% compared to the same quarter last year. On average, research analysts anticipate that Airbnb, Inc. will post 4.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABNB. Benchmark began coverage on Airbnb in a report on Thursday, April 11th. They issued a “buy” rating and a $190.00 target price on the stock. HSBC lowered Airbnb from a “buy” rating to a “hold” rating and reduced their price target for the company from $160.00 to $156.00 in a report on Thursday, May 9th. Wedbush upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and raised their price target for the company from $160.00 to $165.00 in a report on Tuesday, May 28th. Piper Sandler reiterated a “neutral” rating and issued a $155.00 price objective (up from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Finally, B. Riley started coverage on Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $152.44.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total transaction of $91,752.00. Following the completion of the sale, the chief technology officer now owns 208,174 shares of the company’s stock, valued at approximately $31,833,968.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the sale, the chief executive officer now directly owns 14,260,457 shares in the company, valued at $2,083,167,558.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the transaction, the chief technology officer now directly owns 208,174 shares in the company, valued at $31,833,968.08. The disclosure for this sale can be found here. Insiders have sold a total of 540,307 shares of company stock worth $80,338,959 over the last 90 days. Insiders own 27.83% of the company’s stock.

About Airbnb

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.