Sierra Capital LLC Takes $637,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

Sierra Capital LLC purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,021 shares of the company’s stock, valued at approximately $637,000.

A number of other hedge funds also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in shares of Airbnb during the 1st quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb during the third quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Airbnb during the second quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new position in shares of Airbnb during the second quarter valued at approximately $30,000. Finally, Heritage Wealth Advisors raised its holdings in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the subject of several analyst reports. BMO Capital Markets decreased their price target on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group raised their target price on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Susquehanna dropped their target price on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley decreased their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $135.03.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 405,571 shares of company stock valued at $50,126,587 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded down $1.36 during trading on Tuesday, reaching $135.83. The stock had a trading volume of 736,490 shares, compared to its average volume of 4,424,095. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The stock has a market cap of $87.48 billion, a PE ratio of 18.21, a PEG ratio of 1.83 and a beta of 1.17. The business has a fifty day moving average price of $123.64 and a 200-day moving average price of $139.65.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that Airbnb, Inc. will post 4.33 earnings per share for the current fiscal year.

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.