Sierra Capital LLC Buys New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sierra Capital LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,021 shares of the company’s stock, valued at approximately $637,000.

Other large investors also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Airbnb during the first quarter worth approximately $25,000. New Millennium Group LLC purchased a new position in Airbnb during the 2nd quarter worth $28,000. Northwest Investment Counselors LLC acquired a new position in Airbnb in the first quarter valued at $33,000. Heritage Wealth Advisors raised its holdings in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Airbnb during the first quarter worth about $33,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Price Performance

Shares of ABNB traded down $1.36 during trading hours on Tuesday, reaching $135.83. 736,490 shares of the company traded hands, compared to its average volume of 4,424,095. The stock has a fifty day simple moving average of $123.64 and a 200 day simple moving average of $139.65. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $87.48 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, research analysts predict that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $133.51, for a total value of $80,106.00. Following the completion of the transaction, the chief technology officer now directly owns 193,444 shares in the company, valued at approximately $25,826,708.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief financial officer now directly owns 537,072 shares in the company, valued at $64,448,640. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $133.51, for a total value of $80,106.00. Following the completion of the transaction, the chief technology officer now owns 193,444 shares in the company, valued at $25,826,708.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 405,571 shares of company stock valued at $50,126,587. Company insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ABNB. Royal Bank of Canada reduced their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group increased their price target on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday. Wedbush dropped their price objective on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $135.03.

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.