Verde Capital Management Purchases 4,269 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Verde Capital Management grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,118 shares of the company’s stock after purchasing an additional 4,269 shares during the period. Airbnb makes up approximately 0.8% of Verde Capital Management’s investment portfolio, making the stock its 23rd largest holding. Verde Capital Management’s holdings in Airbnb were worth $2,775,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Airbnb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management boosted its holdings in Airbnb by 6,666.7% during the third 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 bought a new position in Airbnb in the third quarter valued at $30,000. Quarry LP bought a new stake in Airbnb during the 3rd quarter worth about $55,000. Finally, CVA Family Office LLC grew its holdings in shares of Airbnb by 131.2% in the 3rd quarter. CVA Family Office LLC now owns 474 shares of the company’s stock valued at $60,000 after acquiring an additional 269 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $1,352,876.68. The trade was a 95.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,169,543 shares of company stock worth $155,659,368. Corporate insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $133.24 on Friday. The firm’s 50 day simple moving average is $134.08 and its 200 day simple moving average is $131.56. The firm has a market capitalization of $84.47 billion, a price-to-earnings ratio of 46.75, a P/E/G ratio of 1.81 and a beta of 1.13. 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, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results 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 business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the business posted $2.39 EPS. As a group, research analysts expect that Airbnb, Inc. will post 3.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ABNB shares. Truist Financial reduced their price target on Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. Wedbush raised their target price on shares of Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Susquehanna upped their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Robert W. Baird boosted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, DA Davidson upped their target price on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.63.

About Airbnb

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.