Lake Street Private Wealth LLC Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Lake Street Private Wealth LLC acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,462 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds also recently added to or reduced their stakes in ABNB. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Airbnb by 2.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,105,329 shares of the company’s stock worth $182,335,000 after buying an additional 26,735 shares during the last quarter. Integrity Wealth Solutions LLC bought a new position in shares of Airbnb in the 1st quarter worth about $307,000. CAP Partners LLC lifted its position in shares of Airbnb by 4.8% in the 1st quarter. CAP Partners LLC now owns 1,963 shares of the company’s stock worth $324,000 after buying an additional 90 shares during the last quarter. Quattro Financial Advisors LLC lifted its position in shares of Airbnb by 2,841.2% in the 1st quarter. Quattro Financial Advisors LLC now owns 4,000 shares of the company’s stock worth $660,000 after buying an additional 3,864 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Airbnb by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 119,300 shares of the company’s stock worth $19,680,000 after buying an additional 300 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

Airbnb stock opened at $152.73 on Friday. The firm’s 50 day simple moving average is $149.79 and its 200-day simple moving average is $151.13. The company has a market cap of $98.36 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. Airbnb, Inc. has a fifty-two week low of $113.24 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. As a group, equities research analysts predict that Airbnb, Inc. will post 4.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ABNB shares. DA Davidson reiterated a “neutral” rating and issued a $145.00 price objective on shares of Airbnb in a research report on Thursday, May 9th. UBS Group lifted their price objective on shares of Airbnb from $143.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. B. Riley Financial started coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, TD Cowen cut their price objective on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus target price of $152.38.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total value of $97,200.00. Following the transaction, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at $35,624,448. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Joseph Gebbia sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $150.00, for a total transaction of $225,000.00. Following the completion of the sale, the director now directly owns 42,087 shares in the company, valued at $6,313,050. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now owns 219,904 shares of the company’s stock, valued at $35,624,448. The disclosure for this sale can be found here. Insiders have sold a total of 424,922 shares of company stock valued at $62,811,386 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

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.