Harber Asset Management LLC Invests $4.56 Million in Airbnb, Inc. (NASDAQ:ABNB)

Harber Asset Management LLC purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the third quarter, HoldingsChannel.com reports. The fund purchased 35,969 shares of the company’s stock, valued at approximately $4,561,000. Airbnb makes up approximately 1.4% of Harber Asset Management LLC’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also recently modified their holdings of ABNB. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the third quarter worth about $25,000. Hollencrest Capital Management raised its holdings in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. New Millennium Group LLC purchased a new position in shares of Airbnb in the 2nd quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in Airbnb in the second quarter worth $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Airbnb during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 1.0 %

Airbnb stock opened at $137.49 on Tuesday. The stock has a market cap of $87.16 billion, a P/E ratio of 48.24, a PEG ratio of 1.93 and a beta of 1.13. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm’s 50 day moving average price is $134.15 and its 200-day moving average price is $135.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm posted $2.39 EPS. On average, equities analysts predict that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the sale, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at approximately $1,765,525,022. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 718,017 shares of company stock valued at $91,842,052. Company insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABNB. Wedbush upped their price objective on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on shares of Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Raymond James started coverage on Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price objective on the stock. Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Finally, Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $138.97.

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.