Cherrydale Wealth Management LLC Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Cherrydale Wealth Management LLC bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,908 shares of the company’s stock, valued at approximately $382,000.

Other institutional investors also recently bought and sold shares of the company. Salvus Wealth Management LLC lifted its stake in shares of Airbnb by 2.5% in the 4th quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after purchasing an additional 84 shares during the period. Koshinski Asset Management Inc. boosted its position in Airbnb by 3.8% during the third quarter. Koshinski Asset Management Inc. now owns 2,305 shares of the company’s stock worth $292,000 after purchasing an additional 85 shares in the last quarter. Edge Capital Group LLC grew its holdings in Airbnb by 1.2% in the second quarter. Edge Capital Group LLC now owns 7,617 shares of the company’s stock valued at $1,155,000 after purchasing an additional 87 shares during the period. Lazari Capital Management Inc. increased its position in shares of Airbnb by 3.6% in the second quarter. Lazari Capital Management Inc. now owns 2,517 shares of the company’s stock valued at $382,000 after buying an additional 88 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Airbnb by 19.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock worth $74,000 after buying an additional 94 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In related news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $137.00, for a total value of $137,000.00. Following the completion of the sale, the chief accounting officer now owns 40,581 shares in the company, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total value of $81,666.00. Following the transaction, the chief technology officer now owns 192,844 shares in the company, valued at $26,247,996.84. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,130,982 shares of company stock worth $150,523,585. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB traded up $2.96 during midday trading on Friday, reaching $135.12. 3,740,209 shares of the stock were exchanged, compared to its average volume of 3,539,122. The company has a market capitalization of $85.66 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.63 and a beta of 1.13. 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, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The business’s 50-day moving average price is $134.16 and its 200 day moving average price is $132.11.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the firm posted $2.39 EPS. On average, sell-side analysts expect that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABNB. Piper Sandler boosted their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Truist Financial decreased their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Barclays raised their price objective on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Wells Fargo & Company cut their target price on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group upped their target price on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $139.63.

About Airbnb

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.