NEOS Investment Management LLC Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

NEOS Investment Management LLC grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 24.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 54,512 shares of the company’s stock after purchasing an additional 10,722 shares during the period. NEOS Investment Management LLC’s holdings in Airbnb were worth $7,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in Airbnb during the fourth quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb during the fourth quarter worth approximately $26,000. Graney & King LLC purchased a new stake in shares of Airbnb during the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new stake in shares of Airbnb during the 4th quarter worth approximately $44,000. Finally, Cromwell Holdings LLC boosted its holdings in shares of Airbnb by 82.5% in the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock valued at $49,000 after buying an additional 170 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ ABNB opened at $125.65 on Friday. The business has a 50 day moving average price of $135.58 and a 200 day moving average price of $133.55. The company has a market capitalization of $79.23 billion, a P/E ratio of 30.42, a PEG ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $167.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on ABNB shares. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research report on Friday, February 14th. UBS Group lifted their price target on Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Truist Financial decreased their price objective on Airbnb from $123.00 to $112.00 and set a “hold” rating for the company in a report on Friday, March 21st. Finally, Wells Fargo & Company cut their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $147.36.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 230,772 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the sale, the chief executive officer now directly owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $137.00, for a total value of $856,250.00. Following the transaction, the chief financial officer now owns 491,238 shares of the company’s stock, valued at $67,299,606. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,270,894 shares of company stock worth $317,578,168. 27.83% of the stock is owned by corporate insiders.

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.