Malaga Cove Capital LLC Takes $249,000 Position in Airbnb, Inc. (NASDAQ:ABNB)

Malaga Cove Capital LLC purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,967 shares of the company’s stock, valued at approximately $249,000.

Other hedge funds have also added to or reduced their stakes in the company. Csenge Advisory Group bought a new position in shares of Airbnb in the 1st quarter valued at $303,000. Empirical Finance LLC bought a new position in Airbnb in the first quarter valued at about $339,000. Envestnet Portfolio Solutions Inc. grew its position in Airbnb by 45.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,021 shares of the company’s stock valued at $4,127,000 after acquiring an additional 7,849 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Airbnb by 138.4% in the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock worth $1,694,000 after acquiring an additional 5,962 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Airbnb by 12.6% in the first quarter. Oppenheimer & Co. Inc. now owns 29,375 shares of the company’s stock worth $4,846,000 after acquiring an additional 3,278 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ABNB. JPMorgan Chase & Co. dropped their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Sanford C. Bernstein dropped their price target on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Bank of America restated a “hold” rating and set a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Wedbush dropped their target price on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group boosted their price target on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $135.35.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total value of $81,198.00. Following the completion of the sale, the chief technology officer now owns 192,244 shares of the company’s stock, valued at approximately $26,016,380.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $135.33, for a total transaction of $81,198.00. Following the completion of the transaction, the chief technology officer now directly owns 192,244 shares in the company, valued at approximately $26,016,380.52. 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 have sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by company insiders.

Airbnb Stock Up 4.6 %

Airbnb stock opened at $147.37 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $94.56 billion, a PE ratio of 20.05, a PEG ratio of 1.93 and a beta of 1.15. The firm’s fifty day moving average is $128.18 and its 200 day moving average is $137.81. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.17 EPS for the current fiscal year.

Airbnb Company 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.