Sweeney & Michel LLC Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Sweeney & Michel LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,986 shares of the company’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CHURCHILL MANAGEMENT Corp bought a new stake in Airbnb in the 1st quarter valued at about $7,628,000. Assenagon Asset Management S.A. lifted its position in Airbnb by 4.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after purchasing an additional 333 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after purchasing an additional 22,551 shares during the last quarter. Stevens Capital Management LP bought a new stake in Airbnb in the 4th quarter valued at about $726,000. Finally, Cerity Partners LLC lifted its position in Airbnb by 14.4% in the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after purchasing an additional 12,008 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Trading Down 0.9 %

Shares of Airbnb stock traded down $1.30 during trading on Tuesday, hitting $138.99. The stock had a trading volume of 2,993,823 shares, compared to its average volume of 4,326,856. The stock has a 50 day simple moving average of $147.55 and a 200 day simple moving average of $152.33. The company has a market capitalization of $89.52 billion, a PE ratio of 18.61, a P/E/G ratio of 1.73 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. On average, research analysts expect that Airbnb, Inc. will post 4.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Benchmark restated a “buy” rating and set a $190.00 price target on shares of Airbnb in a research report on Thursday, July 18th. Piper Sandler Companies boosted their price target on shares of Airbnb from $145.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Wedbush restated an “outperform” rating and set a $165.00 price target on shares of Airbnb in a research report on Tuesday. Finally, B. Riley Financial began coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $152.50.

Insider Activity at Airbnb

In related news, CAO David C. Bernstein sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the transaction, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at $6,915,321. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the transaction, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at $35,624,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David C. Bernstein sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the transaction, the chief accounting officer now directly owns 47,043 shares in the company, valued at $6,915,321. The disclosure for this sale can be found here. Over the last three months, insiders have sold 735,492 shares of company stock valued at $109,423,324. Corporate 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.