Kazazian Asset Management LLC Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Kazazian Asset Management LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, Holdings Channel.com reports. The firm acquired 22,861 shares of the company’s stock, valued at approximately $3,004,000. Airbnb accounts for approximately 2.3% of Kazazian Asset Management LLC’s portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of ABNB. Investment House LLC purchased a new position in shares of Airbnb in the 4th quarter valued at $2,614,000. Harvest Fund Management Co. Ltd grew its position in shares of Airbnb by 23.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 25,633 shares of the company’s stock valued at $3,338,000 after buying an additional 4,919 shares during the last quarter. Vinva Investment Management Ltd grew its position in shares of Airbnb by 82.3% in the 4th quarter. Vinva Investment Management Ltd now owns 22,430 shares of the company’s stock valued at $2,956,000 after buying an additional 10,128 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Airbnb by 63.3% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 41,487 shares of the company’s stock valued at $5,462,000 after buying an additional 16,086 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Airbnb by 121.3% in the 4th quarter. Intech Investment Management LLC now owns 7,808 shares of the company’s stock valued at $1,026,000 after buying an additional 4,279 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Down 1.9 %

Shares of NASDAQ ABNB opened at $124.56 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The firm has a 50-day moving average price of $135.93 and a 200 day moving average price of $133.20. The stock has a market capitalization of $78.54 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.80, for a total value of $27,171,338.00. Following the completion of the sale, the director now directly owns 214,290 shares in the company, valued at approximately $27,171,972. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $130.18, for a total transaction of $91,126.00. Following the completion of the sale, the chief technology officer now owns 172,119 shares of the company’s stock, valued at approximately $22,406,451.42. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,055,209 shares of company stock worth $289,943,548. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABNB. Hsbc Global Res raised shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Truist Financial lowered their price objective 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. Canaccord Genuity Group raised their price objective on shares of Airbnb from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, UBS Group raised their price objective on shares of Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average price target of $148.15.

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.