Malaga Cove Capital LLC Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Malaga Cove Capital LLC bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,967 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Airbnb by 20.6% in the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after buying an additional 83,383 shares during the last quarter. Shellback Capital LP purchased a new position in Airbnb in the second quarter worth $22,744,000. Bradley Foster & Sargent Inc. CT grew its stake in Airbnb by 1,231.3% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after purchasing an additional 19,183 shares during the period. Vanguard Group Inc. increased its position in shares of Airbnb by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after purchasing an additional 791,149 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Airbnb by 86.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after purchasing an additional 2,132 shares during the period. 80.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ABNB. The Goldman Sachs Group reduced their price target on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Piper Sandler cut their price target on Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. UBS Group boosted their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays cut their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada decreased their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.35.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 417,806 shares of company stock worth $51,809,831 in the last ninety days. 27.83% of the stock is owned by company insiders.

Airbnb Price Performance

ABNB stock opened at $147.37 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $94.56 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.93 and a beta of 1.15. The firm’s fifty day moving average is $128.18 and its 200 day moving average is $137.81. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that Airbnb, Inc. will post 4.17 earnings per share for the current year.

Airbnb Profile

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.