Miracle Mile Advisors LLC Has $1.22 Million Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Miracle Mile Advisors LLC raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,617 shares of the company’s stock after purchasing an additional 327 shares during the period. Miracle Mile Advisors LLC’s holdings in Airbnb were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ABNB. Chemistry Wealth Management LLC lifted its holdings in Airbnb by 90.7% in the third quarter. Chemistry Wealth Management LLC now owns 2,660 shares of the company’s stock valued at $337,000 after buying an additional 1,265 shares during the period. Red Spruce Capital LLC lifted its stake in shares of Airbnb by 16.1% in the 3rd quarter. Red Spruce Capital LLC now owns 20,336 shares of the company’s stock valued at $2,579,000 after purchasing an additional 2,818 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Airbnb by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 141,129 shares of the company’s stock valued at $17,897,000 after purchasing an additional 5,119 shares during the period. SG Americas Securities LLC boosted its position in shares of Airbnb by 39.2% in the 3rd quarter. SG Americas Securities LLC now owns 31,125 shares of the company’s stock worth $3,947,000 after purchasing an additional 8,762 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Airbnb by 6.5% during the third quarter. Czech National Bank now owns 89,633 shares of the company’s stock worth $11,366,000 after purchasing an additional 5,501 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 1.7 %

Airbnb stock opened at $132.50 on Wednesday. The stock has a 50-day simple moving average of $121.76 and a 200 day simple moving average of $141.72. The stock has a market capitalization of $85.34 billion, a P/E ratio of 17.74, a PEG ratio of 1.72 and a beta of 1.17. 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 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, valued at approximately $2,083,378.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.88, for a total value of $145,880.00. Following the completion of the sale, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 562,896 shares of company stock worth $74,184,724 over the last ninety days. Insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. TD Cowen reduced their price target on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Argus cut shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Mizuho lowered their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average price target of $134.23.

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.