Shorepath Capital Management LLC Has $5 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Shorepath Capital Management LLC lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 38,022 shares of the company’s stock after buying an additional 2,315 shares during the quarter. Airbnb accounts for 3.6% of Shorepath Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Shorepath Capital Management LLC’s holdings in Airbnb were worth $4,996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Private Wealth LLC increased its position in Airbnb by 20.3% during the 4th quarter. Catalyst Private Wealth LLC now owns 2,237 shares of the company’s stock worth $294,000 after purchasing an additional 377 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Airbnb by 18.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,663 shares of the company’s stock valued at $2,058,000 after purchasing an additional 2,441 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in Airbnb by 2.4% during the fourth quarter. Miracle Mile Advisors LLC now owns 9,847 shares of the company’s stock worth $1,294,000 after purchasing an additional 230 shares during the period. Claro Advisors LLC bought a new stake in Airbnb in the 4th quarter valued at about $364,000. Finally, Wedmont Private Capital lifted its position in Airbnb by 26.2% in the 4th quarter. Wedmont Private Capital now owns 3,505 shares of the company’s stock valued at $454,000 after acquiring an additional 727 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

Airbnb stock opened at $128.85 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm’s 50 day simple moving average is $134.82 and its 200 day simple moving average is $132.39. The firm has a market capitalization of $81.69 billion, a PE ratio of 45.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $2.39 EPS. As a group, analysts expect that Airbnb, Inc. will post 3.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABNB has been the subject of several recent analyst reports. Phillip Securities reiterated a “reduce” rating and issued a $120.00 target price on shares of Airbnb in a research note on Tuesday, November 12th. Piper Sandler upped their price objective on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. UBS Group lifted their target price on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday. Finally, Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.32.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now owns 164,850 shares in the company, valued at approximately $21,466,767. This represents a 5.50 % 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, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total value of $81,666.00. Following the completion of the sale, the chief technology officer now directly owns 192,844 shares in the company, valued at approximately $26,247,996.84. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 915,997 shares of company stock worth $122,800,660 over the last three months. Company 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.