Sweeney & Michel LLC Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Sweeney & Michel LLC purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,986 shares of the company’s stock, valued at approximately $328,000.

Other hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC bought a new position in shares of Airbnb in the first quarter worth approximately $25,000. CVA Family Office LLC bought a new position in shares of Airbnb in the fourth quarter worth approximately $26,000. Bfsg LLC purchased a new position in shares of Airbnb in the fourth quarter worth $27,000. Trust Co. of Vermont purchased a new position in shares of Airbnb in the fourth quarter worth $27,000. Finally, Vima LLC purchased a new position in shares of Airbnb in the fourth quarter worth $29,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABNB. Morgan Stanley boosted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Thursday, May 9th. Piper Sandler reissued a “neutral” rating and issued a $155.00 target price (up previously from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Wells Fargo & Company upped their price target on shares of Airbnb from $127.00 to $129.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Finally, Citigroup decreased their price target on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Four investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $152.50.

Airbnb Stock Down 0.9 %

NASDAQ:ABNB traded down $1.30 during trading hours on Tuesday, reaching $138.99. The company’s stock had a trading volume of 2,993,823 shares, compared to its average volume of 4,326,856. The company has a market capitalization of $89.52 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. Airbnb, Inc. has a 12 month low of $113.24 and a 12 month high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a 50 day moving average price of $147.55 and a two-hundred day moving average price of $152.33.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. Airbnb’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities analysts predict that Airbnb, Inc. will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO David C. Bernstein sold 6,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was 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 SEC, which is accessible through the SEC website. In other news, CAO David C. Bernstein sold 6,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was 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 SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total value of $97,200.00. Following the transaction, the chief technology officer now directly owns 219,904 shares in the company, valued at $35,624,448. The disclosure for this sale can be found here. Insiders sold 735,492 shares of company stock valued at $109,423,324 over the last 90 days. 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.