Morse Asset Management Inc Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Morse Asset Management Inc boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 28.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,416 shares of the company’s stock after acquiring an additional 1,200 shares during the period. Morse Asset Management Inc’s holdings in Airbnb were worth $893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABNB. Norges Bank purchased a new stake in Airbnb in the 4th quarter worth approximately $619,584,000. Jennison Associates LLC grew its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares during the period. Edgewood Management LLC grew its stake in shares of Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after buying an additional 2,135,529 shares during the period. Finally, Intermede Investment Partners Ltd purchased a new stake in shares of Airbnb during the 1st quarter valued at $136,645,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABNB has been the subject of several research reports. UBS Group boosted their price objective on shares of Airbnb from $143.00 to $157.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Thursday, May 9th. Piper Sandler reissued a “neutral” rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. Piper Sandler Companies boosted their price objective on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets boosted their price objective on shares of Airbnb from $135.00 to $151.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $152.50.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $161.02, for a total value of $96,612.00. Following the sale, the chief technology officer now owns 220,504 shares in the company, valued at approximately $35,505,554.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $161.02, for a total transaction of $96,612.00. Following the sale, the chief technology officer now owns 220,504 shares in the company, valued at approximately $35,505,554.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 736,092 shares of company stock worth $109,519,936. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Up 0.0 %

ABNB stock traded up $0.07 during trading on Friday, reaching $140.10. The stock had a trading volume of 5,101,418 shares, compared to its average volume of 3,544,985. Airbnb, Inc. has a 1-year low of $113.24 and a 1-year high of $170.10. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $90.23 billion, a P/E ratio of 18.76, a PEG ratio of 1.73 and a beta of 1.18. The firm has a fifty day moving average price of $147.78 and a 200 day moving average price of $152.31.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. On average, equities analysts anticipate that Airbnb, Inc. will post 4.66 earnings per share for the current year.

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.