Spire Wealth Management Raises Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Spire Wealth Management boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 40.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 909 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Spire Wealth Management’s holdings in Airbnb were worth $109,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ABNB. Park Square Financial Group LLC purchased a new position in shares of Airbnb in the fourth quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb in the fourth quarter valued at approximately $28,000. Graney & King LLC purchased a new position in shares of Airbnb in the fourth quarter valued at approximately $32,000. Rakuten Securities Inc. lifted its position in shares of Airbnb by 31.6% in the first quarter. Rakuten Securities Inc. now owns 379 shares of the company’s stock valued at $45,000 after acquiring an additional 91 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Airbnb in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial restated a “sell” rating and issued a $106.00 target price (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Piper Sandler decreased their target price on Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. JMP Securities reaffirmed a “market perform” rating on shares of Airbnb in a report on Friday, May 2nd. Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and increased their price target for the company from $165.00 to $185.00 in a report on Monday, March 10th. Finally, Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $141.23.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Monday, May 5th. The stock was sold at an average price of $123.43, for a total value of $771,437.50. Following the completion of the transaction, the chief financial officer directly owned 485,080 shares in the company, valued at approximately $59,873,424.40. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $128.66, for a total value of $30,363,760.00. Following the completion of the transaction, the director owned 1,416,015 shares of the company’s stock, valued at approximately $182,184,489.90. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,607,528 shares of company stock worth $201,688,571. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Down 1.6%

ABNB opened at $132.34 on Tuesday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The business has a fifty day simple moving average of $130.41 and a 200-day simple moving average of $130.35. The firm has a market cap of $82.90 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.52 and a beta of 1.14.

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 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 analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.