DAVENPORT & Co LLC Raises Stake in Airbnb, Inc. (NASDAQ:ABNB)

DAVENPORT & Co LLC lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 18.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,324 shares of the company’s stock after purchasing an additional 361 shares during the quarter. DAVENPORT & Co LLC’s holdings in Airbnb were worth $316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ABNB. Wellesley Asset Management acquired a new position in Airbnb during the 1st quarter worth approximately $121,000. CVA Family Office LLC acquired a new position in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Airbnb during the 3rd quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Airbnb during the 4th quarter worth approximately $30,000. Finally, Farmers & Merchants Investments Inc. acquired a new position in Airbnb during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total transaction of $96,426.00. Following the completion of the transaction, the chief technology officer now owns 143,131 shares of the company’s stock, valued at $23,002,583.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.71, for a total transaction of $96,426.00. Following the completion of the transaction, the chief technology officer now owns 143,131 shares of the company’s stock, valued at $23,002,583.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $136.00, for a total value of $374,000.00. Following the transaction, the chief technology officer now directly owns 151,146 shares of the company’s stock, valued at approximately $20,555,856. The disclosure for this sale can be found here. Over the last quarter, insiders sold 615,767 shares of company stock valued at $94,092,592. 30.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on ABNB shares. Royal Bank of Canada boosted their price target on Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Mizuho upped their target price on Airbnb from $130.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. BMO Capital Markets upped their target price on Airbnb from $134.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. upped their target price on Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $160.00 target price (up from $150.00) on shares of Airbnb in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $146.17.

Airbnb Trading Down 1.5 %

NASDAQ:ABNB opened at $160.28 on Thursday. Airbnb, Inc. has a 1 year low of $103.55 and a 1 year high of $170.10. The stock has a market cap of $103.71 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.05 and a beta of 1.25. The business has a fifty day moving average of $157.90 and a 200-day moving average of $141.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equities analysts predict that Airbnb, Inc. will post 4.63 earnings per share 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.