Hobbs Group Advisors LLC Invests $57,000 in Airbnb, Inc. (NASDAQ:ABNB)

Hobbs Group Advisors LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, Holdings Channel reports. The fund acquired 375 shares of the company’s stock, valued at approximately $57,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after acquiring an additional 791,149 shares during the last quarter. Edgewood Management LLC boosted its stake in shares of Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares during the last quarter. Jennison Associates LLC increased its position in Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Finally, Norges Bank purchased a new position in Airbnb in the 4th quarter valued at about $619,584,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Down 1.5 %

Shares of ABNB stock traded down $1.76 during trading hours on Tuesday, reaching $117.38. The company had a trading volume of 3,930,929 shares, compared to its average volume of 4,588,941. The company has a market capitalization of $75.60 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The stock’s fifty day simple moving average is $140.85 and its 200 day simple moving average is $150.28.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.66 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the sale, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $146.00, for a total transaction of $87,600.00. Following the sale, the chief technology officer now directly owns 211,774 shares of the company’s stock, valued at approximately $30,919,004. The disclosure for this sale can be found here. In the last three months, insiders sold 734,892 shares of company stock valued at $109,314,640. Corporate insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ABNB shares. Mizuho raised shares of Airbnb from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $150.00 to $200.00 in a research report on Wednesday, April 24th. Royal Bank of Canada lowered their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Robert W. Baird lowered their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Susquehanna decreased their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average target price of $137.00.

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.