Envestnet Portfolio Solutions Inc. Buys 5,532 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 32.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,673 shares of the company’s stock after acquiring an additional 5,532 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Airbnb were worth $2,979,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in Airbnb during the 4th quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb in the fourth quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in Airbnb in the fourth quarter worth $44,000. Cromwell Holdings LLC grew 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 during the period. Finally, Quarry LP acquired a new position in shares of Airbnb in the 3rd quarter valued at $55,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

ABNB opened at $126.00 on Thursday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The business has a 50 day moving average of $135.83 and a 200-day moving average of $133.14. The stock has a market cap of $79.45 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.52 and a beta of 1.10.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ABNB. Bank of America lifted their target price on Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Truist Financial cut their price objective on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Tigress Financial boosted their price objective on Airbnb from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Barclays lifted their price target on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, February 14th. Finally, DA Davidson increased their price objective on shares of Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $148.15.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 183,078 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the transaction, the insider now owns 164,850 shares of the company’s stock, valued at approximately $26,046,300. This represents a 52.62 % 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 this link. Also, CEO Brian Chesky sold 38,461 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $126.60, for a total value of $4,869,162.60. Following the transaction, the chief executive officer now owns 11,770,144 shares in the company, valued at approximately $1,490,100,230.40. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,093,670 shares of company stock worth $294,812,710. 27.83% of the stock is owned by insiders.

About Airbnb

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.