Confluence Wealth Services Inc. Purchases Shares of 1,584 Airbnb, Inc. (NASDAQ:ABNB)

Confluence Wealth Services Inc. purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,584 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds also recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new position in shares of Airbnb during the 3rd quarter valued at $25,000. Hollencrest Capital Management lifted its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Berbice Capital Management LLC acquired a new position in shares of Airbnb during the 4th quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Airbnb during the 3rd quarter valued at $30,000. Finally, Quarry LP acquired a new position in shares of Airbnb during the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $155.00 target price on shares of Airbnb in a report on Tuesday. TD Cowen lifted their target price on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Phillip Securities restated a “reduce” rating and set a $120.00 target price on shares of Airbnb in a report on Tuesday, November 12th. Robert W. Baird boosted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company cut their price objective on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.63.

Insider Buying and Selling at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $129.58, for a total value of $809,875.00. Following the completion of the sale, the chief financial officer now directly owns 484,988 shares of the company’s stock, valued at approximately $62,844,745.04. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 76,923 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the completion of the sale, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at approximately $1,765,525,022. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,417,704 shares of company stock valued at $187,654,829 in the last ninety days. Company insiders own 27.83% of the company’s stock.

Airbnb Trading Up 2.3 %

Airbnb stock opened at $132.57 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $133.00 and a two-hundred day moving average price of $130.28. The firm has a market capitalization of $84.05 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 1.72 and a beta of 1.12. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

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 analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the previous year, the firm earned $2.39 earnings per share. Sell-side analysts expect that Airbnb, Inc. will post 3.98 earnings per share for the current year.

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.