Independent Advisor Alliance Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Independent Advisor Alliance lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 38.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,461 shares of the company’s stock after purchasing an additional 2,084 shares during the period. Independent Advisor Alliance’s holdings in Airbnb were worth $980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Gallagher Capital Advisors LLC acquired a new position in shares of Airbnb in the 4th quarter valued at $533,000. Daiwa Securities Group Inc. lifted its stake in shares of Airbnb by 47.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 152,463 shares of the company’s stock valued at $20,066,000 after purchasing an additional 49,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Airbnb by 4.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,777 shares of the company’s stock valued at $12,323,000 after purchasing an additional 4,292 shares during the period. Sowell Financial Services LLC lifted its stake in shares of Airbnb by 37.5% in the 4th quarter. Sowell Financial Services LLC now owns 16,013 shares of the company’s stock valued at $2,104,000 after purchasing an additional 4,369 shares during the period. Finally, AlphaQuest LLC raised its position in Airbnb by 31.0% during the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $367,000 after acquiring an additional 661 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ABNB shares. Evercore ISI upped their price objective on shares of Airbnb to $155.00 and gave the stock a “hold” rating in a research report on Wednesday, January 15th. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Barclays upped their price objective on shares of Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, February 14th. Truist Financial reduced their price objective on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Finally, Morgan Stanley upped their price objective on shares of Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $148.15.

Insider Activity

In related news, insider Nathan Blecharczyk sold 183,078 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at $26,046,300. This trade represents a 52.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $131.88, for a total transaction of $28,259,905.80. Following the completion of the sale, the director now directly owns 1,285,715 shares in the company, valued at approximately $169,560,094.20. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,269,494 shares of company stock valued at $318,203,453. 27.83% of the stock is currently owned by company insiders.

Airbnb Trading Up 2.9 %

Shares of ABNB stock opened at $122.86 on Friday. The company has a 50-day moving average of $136.23 and a two-hundred day moving average of $132.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market cap of $77.47 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, analysts predict that Airbnb, Inc. will post 4.31 EPS 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.