Choreo LLC Purchases 9,646 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Choreo LLC grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 658.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,112 shares of the company’s stock after purchasing an additional 9,646 shares during the period. Choreo LLC’s holdings in Airbnb were worth $1,685,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Joel Isaacson & Co. LLC grew its position in Airbnb by 2.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after acquiring an additional 67 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after purchasing an additional 68 shares in the last quarter. Farrow Financial Inc. increased its holdings in Airbnb by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after purchasing an additional 69 shares during the period. Heritage Wealth Advisors raised its position in Airbnb by 55.0% during the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Finally, GYL Financial Synergies LLC lifted its holdings in shares of Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after buying an additional 76 shares during the period. Institutional investors own 80.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Bank of America cut their price target on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group decreased their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Robert W. Baird dropped their target price on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. 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. Finally, Morgan Stanley boosted their price target on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $134.48.

Airbnb Stock Performance

NASDAQ:ABNB opened at $115.96 on Thursday. The company has a fifty day moving average of $129.55 and a two-hundred day moving average of $146.25. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $74.68 billion, a PE ratio of 15.52, a P/E/G ratio of 1.52 and a beta of 1.16. 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 (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share 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 company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 115,385 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $17,205,057.35. Following the completion of the sale, the chief executive officer now owns 13,798,917 shares of the company’s stock, valued at approximately $2,057,556,513.87. The disclosure for this sale can be found here. Insiders sold 451,932 shares of company stock valued at $67,643,949 over the last quarter. 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.