Pallas Capital Advisors LLC Acquires 2,441 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Pallas Capital Advisors LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 18.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,663 shares of the company’s stock after purchasing an additional 2,441 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Airbnb were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Meritage Group LP bought a new position in Airbnb in the third quarter worth approximately $160,985,000. Edgewood Management LLC grew its stake in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Airbnb by 19,430.3% during the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock valued at $1,419,610,000 after acquiring an additional 1,113,747 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Airbnb by 91.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock worth $294,726,000 after purchasing an additional 1,109,076 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Susquehanna upped their target price on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a report on Monday, November 11th. Truist Financial cut their price target on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Sanford C. Bernstein lowered their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Finally, Bank of America lifted their target price on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Six analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.32.

Airbnb Stock Performance

Shares of ABNB stock opened at $128.85 on Tuesday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market capitalization of $81.69 billion, a P/E ratio of 45.21, a PEG ratio of 1.93 and a beta of 1.13. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $134.82 and its 200 day moving average is $132.39.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the prior year, the company earned $2.39 EPS. On average, sell-side analysts anticipate that Airbnb, Inc. will post 3.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the sale, the director now owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the transaction, the insider now owns 164,850 shares of the company’s stock, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 915,997 shares of company stock worth $122,800,660 in the last quarter. 27.83% of the stock is owned by company insiders.

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.