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

Delap Wealth Advisory LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,483 shares of the company’s stock, valued at approximately $376,000.

Other hedge funds also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Airbnb in the first quarter worth about $7,628,000. Rafferty Asset Management LLC boosted its holdings in shares of Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after buying an additional 22,551 shares during the period. SteelPeak Wealth LLC boosted its holdings in shares of Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after buying an additional 985 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Airbnb by 20.6% in the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock worth $80,644,000 after buying an additional 83,383 shares during the period. Finally, State of Tennessee Treasury Department boosted its holdings in shares of Airbnb by 35.8% in the fourth quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after buying an additional 37,785 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total value of $89,382.00. Following the sale, the chief technology officer now owns 209,374 shares of the company’s stock, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $148.97, for a total value of $89,382.00. Following the sale, the chief technology officer now owns 209,374 shares of the company’s stock, valued at approximately $31,190,444.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 5,442 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $150.00, for a total transaction of $816,300.00. Following the completion of the sale, the director now directly owns 42,087 shares in the company, valued at approximately $6,313,050. The disclosure for this sale can be found here. Insiders have sold 685,451 shares of company stock valued at $95,552,289 in the last 90 days. 27.83% of the stock is currently owned by company insiders.

Airbnb Trading Up 1.9 %

Shares of ABNB stock opened at $131.18 on Friday. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm’s fifty day simple moving average is $125.60 and its 200 day simple moving average is $144.73. The firm has a market capitalization of $84.49 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. 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 announced its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) 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 company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.39 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. 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 report on Tuesday, September 17th. Mizuho decreased their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Finally, Truist Financial decreased their price target on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus target price of $134.17.

Airbnb Company 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.