Delap Wealth Advisory LLC Makes New $376,000 Investment in Airbnb, Inc. (NASDAQ:ABNB)

Delap Wealth Advisory LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,483 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABNB. Coldstream Capital Management Inc. boosted its stake in Airbnb by 27.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,011 shares of the company’s stock valued at $274,000 after purchasing an additional 431 shares during the last quarter. Quest Partners LLC bought a new stake in Airbnb during the fourth quarter valued at about $251,000. EverSource Wealth Advisors LLC raised its holdings in Airbnb by 44.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $156,000 after acquiring an additional 354 shares during the period. Commerce Bank raised its holdings in Airbnb by 20.6% during the fourth quarter. Commerce Bank now owns 21,055 shares of the company’s stock valued at $2,866,000 after acquiring an additional 3,595 shares during the period. Finally, FineMark National Bank & Trust raised its holdings in Airbnb by 6.7% during the fourth quarter. FineMark National Bank & Trust now owns 3,194 shares of the company’s stock valued at $435,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Argus downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Bank of America decreased their price objective on shares of Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein decreased their price target on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $134.17.

Airbnb Price Performance

ABNB opened at $131.18 on Friday. The company has a fifty day simple moving average of $125.60 and a 200 day simple moving average of $144.73. The firm has a market cap of $84.49 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.54 and a beta of 1.16. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company earned $0.98 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Airbnb news, Director Joseph Gebbia sold 5,442 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $150.00, for a total transaction of $816,300.00. Following the transaction, the director now owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The disclosure for this sale can be found here. In the last three months, insiders have sold 685,451 shares of company stock worth $95,552,289. 27.83% of the stock is currently owned by insiders.

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.