Birch Hill Investment Advisors LLC Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Birch Hill Investment Advisors LLC bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter, HoldingsChannel reports. The fund bought 6,460 shares of the company’s stock, valued at approximately $849,000.

Other large investors also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Airbnb in the 3rd quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $25,000. Hollencrest Capital Management raised its holdings in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in Airbnb in the 3rd quarter valued at $30,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABNB. UBS Group lifted their price target on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Susquehanna lifted their target price on Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Finally, Robert W. Baird raised their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.63.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $134.98 on Friday. The firm has a 50 day moving average of $132.98 and a 200-day moving average of $130.04. The stock has a market capitalization of $85.57 billion, a PE ratio of 47.36, a PEG ratio of 1.88 and a beta of 1.12. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the firm posted $2.39 EPS. On average, equities research analysts predict that Airbnb, Inc. will post 3.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $128.15, for a total transaction of $89,705.00. Following the sale, the chief technology officer now owns 182,614 shares of the company’s stock, valued at $23,401,984.10. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $128.95, for a total value of $27,632,050.75. Following the sale, the director now owns 1,071,430 shares in the company, valued at approximately $138,160,898.50. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,417,704 shares of company stock valued at $187,654,829. 27.83% of the stock is currently owned by corporate insiders.

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.