Occidental Asset Management LLC Makes New $301,000 Investment in Airbnb, Inc. (NASDAQ:ABNB)

Occidental Asset Management LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,287 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Airbnb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its position in shares of Airbnb by 6,666.7% during the 3rd 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. Ashton Thomas Securities LLC acquired a new position in shares of Airbnb during the third quarter worth $30,000. Quarry LP purchased a new position in Airbnb in the third quarter valued at $55,000. Finally, CVA Family Office LLC increased its holdings in Airbnb by 131.2% in the third quarter. CVA Family Office LLC now owns 474 shares of the company’s stock valued at $60,000 after buying an additional 269 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the transaction, the director now owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total transaction of $81,666.00. Following the completion of the transaction, the chief technology officer now owns 192,844 shares in the company, valued at approximately $26,247,996.84. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,982 shares of company stock valued at $150,523,585 in the last quarter. 27.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABNB shares. Susquehanna upped their price objective on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Evercore ISI upped their price target on Airbnb to $155.00 and gave the company a “hold” rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Benchmark restated a “buy” rating and issued a $155.00 target price on shares of Airbnb in a report on Friday, November 8th. Finally, Truist Financial dropped their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and an average price target of $139.63.

Airbnb Price Performance

NASDAQ:ABNB opened at $135.12 on Friday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market cap of $85.66 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The company’s 50-day moving average is $134.15 and its two-hundred day moving average is $132.22. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

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

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.