NorthCrest Asset Manangement LLC Buys 5,943 Shares of Airbnb, Inc. $ABNB

NorthCrest Asset Manangement LLC boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 273.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,113 shares of the company’s stock after purchasing an additional 5,943 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Airbnb were worth $972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Wealth Enhancement Advisory Services LLC grew its holdings in Airbnb by 19.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,944 shares of the company’s stock valued at $9,461,000 after buying an additional 12,677 shares during the last quarter. Xcel Wealth Management LLC raised its position in Airbnb by 59.4% in the third quarter. Xcel Wealth Management LLC now owns 4,170 shares of the company’s stock worth $506,000 after purchasing an additional 1,554 shares in the last quarter. Florida Trust Wealth Management Co acquired a new position in shares of Airbnb in the 3rd quarter worth approximately $304,000. Amalgamated Bank lifted its holdings in shares of Airbnb by 1.0% during the third quarter. Amalgamated Bank now owns 94,711 shares of the company’s stock valued at $11,500,000 after acquiring an additional 981 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Airbnb by 15.3% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,785 shares of the company’s stock valued at $820,000 after purchasing an additional 900 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $133.59 on Thursday. The company has a market capitalization of $82.23 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a 50-day simple moving average of $128.41 and a 200 day simple moving average of $127.64.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $2.13 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $120.66, for a total transaction of $28,475,760.00. Following the transaction, the director owned 232,015 shares in the company, valued at approximately $27,994,929.90. This trade represents a 50.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total value of $6,719,326.80. Following the completion of the transaction, the chief executive officer directly owned 45,854 shares in the company, valued at approximately $6,014,210.64. This represents a 52.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,400,556 shares of company stock valued at $173,288,845. 27.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABNB shares. BNP Paribas Exane began coverage on Airbnb in a research note on Monday, November 24th. They issued a “hold” rating on the stock. Morgan Stanley raised their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, January 13th. BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Friday, November 7th. Wells Fargo & Company set a $128.00 price objective on shares of Airbnb and gave the company an “equal weight” rating in a research report on Friday, January 9th. Finally, Sanford C. Bernstein dropped their target price on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $147.84.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.