Financial Advocates Investment Management Invests $323,000 in Airbnb, Inc. (NASDAQ:ABNB)

Financial Advocates Investment Management acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,456 shares of the company’s stock, valued at approximately $323,000.

Several other large investors also recently bought and sold shares of the business. Edgewood Management LLC lifted its holdings in shares of Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the period. Geode Capital Management LLC increased its position in Airbnb by 1.6% during the third quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after acquiring an additional 146,761 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after purchasing an additional 52,358 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Airbnb by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock valued at $299,272,000 after purchasing an additional 80,610 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,417,704 shares of company stock valued at $187,654,829 in the last ninety days. 27.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Truist Financial cut their price objective on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Jefferies Financial Group raised their target price on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler boosted their price target on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Airbnb currently has an average rating of “Hold” and a consensus target price of $139.63.

Airbnb Stock Up 1.8 %

Shares of ABNB opened at $134.98 on Monday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $132.98 and a 200 day moving average of $129.94. The company has a market cap of $85.57 billion, a PE ratio of 47.36, a P/E/G ratio of 1.88 and a beta of 1.12. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10.

Airbnb (NASDAQ:ABNB) last released 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). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the business posted $2.39 EPS. On average, sell-side analysts expect that Airbnb, Inc. will post 3.97 EPS for the current year.

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.