Kingsview Wealth Management LLC Boosts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Kingsview Wealth Management LLC boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,691 shares of the company’s stock after purchasing an additional 97 shares during the period. Kingsview Wealth Management LLC’s holdings in Airbnb were worth $468,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of Airbnb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management boosted its position in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. New Millennium Group LLC purchased a new stake in shares of Airbnb in the second quarter worth $28,000. Cultivar Capital Inc. bought a new stake in shares of Airbnb during the 2nd quarter valued at $30,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Airbnb during the 3rd quarter valued at $30,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 1.0 %

NASDAQ ABNB opened at $138.28 on Friday. The company’s 50-day moving average price is $133.86 and its 200-day moving average price is $135.47. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market cap of $87.67 billion, a PE ratio of 48.52, a PEG ratio of 2.00 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm earned $2.39 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 718,017 shares of company stock valued at $91,842,052. 27.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on ABNB. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Sanford C. Bernstein lowered their price target on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Truist Financial cut their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Piper Sandler boosted their target price on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group cut their target price on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $138.97.

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.