EP Wealth Advisors LLC Buys 160 Shares of Airbnb, Inc. (NASDAQ:ABNB)

EP Wealth Advisors LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,160 shares of the company’s stock after purchasing an additional 160 shares during the quarter. EP Wealth Advisors LLC’s holdings in Airbnb were worth $356,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp bought a new stake in Airbnb during the 1st quarter valued at $7,628,000. Assenagon Asset Management S.A. raised its holdings in shares of Airbnb by 4.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock worth $1,119,000 after acquiring an additional 333 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after acquiring an additional 22,551 shares during the last quarter. Stevens Capital Management LP bought a new position in Airbnb in the 4th quarter valued at about $726,000. Finally, Cerity Partners LLC boosted its stake in Airbnb by 14.4% during the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after purchasing an additional 12,008 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ABNB shares. Morgan Stanley raised their target price on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday. Wedbush raised shares of Airbnb from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $165.00 in a report on Tuesday, May 28th. Benchmark reiterated a “buy” rating and issued a $190.00 target price on shares of Airbnb in a report on Thursday, July 18th. HSBC lowered shares of Airbnb from a “buy” rating to a “hold” rating and dropped their price target for the company from $160.00 to $156.00 in a research report on Thursday, May 9th. Finally, Tigress Financial upped their price objective on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $152.50.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the sale, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Gebbia sold 44,990 shares of the business’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 transaction, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $149.11, for a total value of $17,205,057.35. Following the completion of the sale, the chief executive officer now directly owns 13,798,917 shares in the company, valued at approximately $2,057,556,513.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 736,092 shares of company stock worth $109,519,936. 27.83% of the stock is owned by company insiders.

Airbnb Stock Performance

Shares of Airbnb stock traded up $0.07 during trading hours on Friday, reaching $140.10. The company had a trading volume of 5,101,418 shares, compared to its average volume of 3,544,985. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. Airbnb, Inc. has a one year low of $113.24 and a one year high of $170.10. The firm has a market cap of $90.23 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The business has a fifty day simple moving average of $147.78 and a 200 day simple moving average of $152.14.

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