Abacus FCF Advisors LLC Purchases New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Abacus FCF Advisors LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, Holdings Channel reports. The fund bought 49,932 shares of the company’s stock, valued at approximately $6,562,000.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock worth $1,244,514,000 after buying an additional 72,991 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Airbnb by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after purchasing an additional 558,856 shares during the last quarter. Norges Bank purchased a new position in shares of Airbnb during the 4th quarter worth approximately $433,374,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Airbnb by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,790,644 shares of the company’s stock worth $366,719,000 after purchasing an additional 84,348 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the transaction, the director now owns 1,071,430 shares of the company’s stock, valued at approximately $138,160,898.50. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $119.67, for a total transaction of $83,769.00. Following the completion of the sale, the chief technology officer now directly owns 170,019 shares of the company’s stock, valued at approximately $20,346,173.73. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,030,357 shares of company stock worth $284,351,868. 27.83% of the stock is owned by company insiders.

Airbnb Stock Performance

ABNB stock opened at $106.30 on Tuesday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $166.74. The stock has a market capitalization of $67.03 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The stock’s fifty day moving average is $133.30 and its two-hundred day moving average is $133.58.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. DA Davidson boosted their price target on Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. B. Riley lifted their price target on shares of Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. The Goldman Sachs Group upgraded shares of Airbnb from a “sell” rating to a “neutral” rating and raised their target price for the stock from $110.00 to $153.00 in a research report on Friday, February 14th. Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and increased their price target for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Finally, Robert W. Baird dropped their target price on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $147.41.

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.