Ritholtz Wealth Management Buys 484 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Ritholtz Wealth Management boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 10.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,328 shares of the company’s stock after purchasing an additional 484 shares during the quarter. Ritholtz Wealth Management’s holdings in Airbnb were worth $636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new stake in shares of Airbnb during the 4th quarter worth $26,000. Orion Capital Management LLC bought a new stake in Airbnb during the fourth quarter valued at about $28,000. Graney & King LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at about $32,000. Whipplewood Advisors LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at about $44,000. Finally, Cromwell Holdings LLC increased its stake in shares of Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock worth $49,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of research analyst reports. Citigroup lowered their target price on Airbnb from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Evercore ISI reduced their price objective on Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company boosted their target price on shares of Airbnb from $100.00 to $104.00 and gave the stock an “underweight” rating in a research report on Friday, May 2nd. Barclays cut their target price on shares of Airbnb from $120.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada reduced their price target on shares of Airbnb from $160.00 to $140.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Five equities research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $141.23.

Airbnb Trading Down 0.9%

ABNB opened at $132.17 on Thursday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The stock has a market capitalization of $82.79 billion, a PE ratio of 33.38, a PEG ratio of 2.50 and a beta of 1.14. The firm has a 50-day moving average price of $127.39 and a two-hundred day moving average price of $130.71.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last 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. On average, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the completion of the sale, the director now directly owns 1,416,015 shares of the company’s stock, valued at $182,184,489.90. The trade was a 14.29% decrease in their ownership of the stock. 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 600 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $137.13, for a total value of $82,278.00. Following the transaction, the chief technology officer now owns 213,377 shares of the company’s stock, valued at $29,260,388.01. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,624,472 shares of company stock worth $203,509,100 over the last 90 days. 27.91% of the stock is owned by insiders.

Airbnb 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.