IHT Wealth Management LLC boosted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 213.4% in the 1st quarter, HoldingsChannel reports. The firm owned 4,714 shares of the company’s stock after buying an additional 3,210 shares during the period. IHT Wealth Management LLC’s holdings in Airbnb were worth $886,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new stake in Airbnb in the 4th quarter valued at about $1,585,718,000. Jennison Associates LLC increased its position in Airbnb by 551.6% in the 1st quarter. Jennison Associates LLC now owns 3,358,931 shares of the company’s stock valued at $631,277,000 after acquiring an additional 2,843,433 shares in the last quarter. Silver Lake Group L.L.C. acquired a new stake in Airbnb in the 4th quarter valued at about $375,721,000. Morgan Stanley acquired a new stake in Airbnb in the 4th quarter valued at about $343,849,000. Finally, Sands Capital Management LLC acquired a new stake in Airbnb in the 4th quarter valued at about $316,298,000. 12.53% of the stock is owned by hedge funds and other institutional investors.
NASDAQ ABNB opened at $139.25 on Thursday. The company has a market cap of $85.99 billion and a PE ratio of -8.97. Airbnb, Inc. has a one year low of $121.50 and a one year high of $219.94. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $144.42.
In other Airbnb news, Director Ann Mather sold 1,158 shares of Airbnb stock in a transaction dated Wednesday, May 26th. The stock was sold at an average price of $134.75, for a total transaction of $156,040.50. Following the completion of the transaction, the director now owns 8,701 shares of the company’s stock, valued at approximately $1,172,459.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 2,522 shares of Airbnb stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $135.15, for a total value of $340,848.30. Following the transaction, the chief accounting officer now directly owns 77,135 shares of the company’s stock, valued at approximately $10,424,795.25. The disclosure for this sale can be found here. In the last three months, insiders sold 3,020,714 shares of company stock valued at $432,036,109. 36.30% of the stock is currently owned by insiders.
ABNB has been the subject of several analyst reports. Evercore ISI lowered their price target on shares of Airbnb from $245.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, May 14th. Mizuho lowered their price target on shares of Airbnb from $176.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, May 14th. Wells Fargo & Company upgraded shares of Airbnb from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Friday, May 14th. Piper Sandler cut their price target on shares of Airbnb from $198.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 14th. Finally, Wolfe Research assumed coverage on shares of Airbnb in a research report on Thursday, April 1st. They issued a “peer perform” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $170.94.
Airbnb Company Profile
Airbnb, Inc, together with its subsidiaries, operates a platform for stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms and luxury villas. The company was formerly known as AirBed & Breakfast, Inc and changed its name to Airbnb, Inc in November 2010.
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