Sunbelt Securities Inc. Grows Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sunbelt Securities Inc. grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,139 shares of the company’s stock after buying an additional 237 shares during the period. Sunbelt Securities Inc.’s holdings in Airbnb were worth $188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABNB. CVA Family Office LLC purchased a new position in Airbnb during the 4th quarter valued at $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb during the 3rd quarter valued at about $27,000. Bfsg LLC purchased a new position in shares of Airbnb during the fourth quarter valued at about $27,000. Trust Co. of Vermont bought a new position in Airbnb in the fourth quarter worth about $27,000. Finally, Vima LLC purchased a new stake in Airbnb in the fourth quarter worth about $29,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $151.63 on Friday. The company has a 50 day simple moving average of $150.43 and a two-hundred day simple moving average of $150.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $97.66 billion, a P/E ratio of 20.30, a PEG ratio of 1.86 and a beta of 1.18. Airbnb, Inc. has a 1-year low of $113.24 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. Equities analysts forecast that Airbnb, Inc. will post 4.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ABNB. HSBC downgraded Airbnb from a “buy” rating to a “hold” rating and reduced their target price for the stock from $160.00 to $156.00 in a report on Thursday, May 9th. Tigress Financial increased their price objective on Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and boosted their target price for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Wedbush raised shares of Airbnb from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $165.00 in a research report on Tuesday, May 28th. Finally, Wells Fargo & Company upped their price objective on shares of Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a report on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $152.38.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now owns 209,374 shares in the company, valued at $31,190,444.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total transaction of $89,382.00. Following the completion of the transaction, the chief technology officer now owns 209,374 shares of the company’s stock, valued at approximately $31,190,444.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 413,287 shares of company stock valued at $61,071,555. Corporate 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.