Exchange Traded Concepts LLC Buys 147 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Exchange Traded Concepts LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,325 shares of the company’s stock after purchasing an additional 147 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Airbnb were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABNB. MJP Associates Inc. ADV grew its holdings in shares of Airbnb by 1.8% during the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after purchasing an additional 67 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Airbnb by 1.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after purchasing an additional 78 shares during the last quarter. Ellevest Inc. grew its holdings in shares of Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after purchasing an additional 80 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock worth $176,000 after purchasing an additional 90 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Airbnb by 3.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,490 shares of the company’s stock worth $327,000 after purchasing an additional 91 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the sale, the director now owns 2,294,870 shares in the company, valued at approximately $249,590,061.20. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 38,459 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $120.44, for a total value of $4,632,001.96. Following the sale, the chief executive officer now owns 11,731,685 shares of the company’s stock, valued at $1,412,964,141.40. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,624,472 shares of company stock valued at $203,509,100 over the last ninety days. 27.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABNB has been the topic of several research reports. Phillip Securities cut Airbnb from a “hold” rating to a “moderate sell” rating in a report on Friday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, May 14th. Evercore ISI reduced their target price on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Truist Financial reiterated a “sell” rating and issued a $106.00 target price (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Finally, Robert W. Baird reduced their target price on Airbnb from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.23.

Airbnb Stock Down 2.8%

Shares of NASDAQ:ABNB opened at $133.37 on Wednesday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock’s 50 day moving average is $127.18 and its 200-day moving average is $130.70. The firm has a market capitalization of $83.54 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.57 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $0.41 earnings per share. Airbnb’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb Company 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.