Crawford Fund Management LLC Purchases New Shares in Airbnb, Inc. (NASDAQ:ABNB)

Crawford Fund Management LLC purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,750 shares of the company’s stock, valued at approximately $3,012,000. Airbnb accounts for about 0.6% of Crawford Fund Management LLC’s holdings, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABNB. Northwest Investment Counselors LLC purchased a new stake in Airbnb during the 3rd quarter valued at $25,000. Hollencrest Capital Management increased its stake in Airbnb by 6,666.7% in 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 period. New Millennium Group LLC purchased a new stake in Airbnb in the second quarter worth $28,000. Cultivar Capital Inc. purchased a new stake in Airbnb in the second quarter worth $30,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Airbnb in the third quarter worth $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 1.0 %

Shares of NASDAQ:ABNB opened at $138.28 on Friday. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The stock has a market cap of $87.67 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 2.00 and a beta of 1.15. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $133.86 and a 200-day moving average price of $135.47.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $2.39 earnings per share. Equities analysts predict that Airbnb, Inc. will post 4.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. Wells Fargo & Company increased their target price on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. B. Riley dropped their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Finally, TD Cowen increased their price target on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average target price of $138.97.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 718,017 shares of company stock worth $91,842,052. 27.83% of the stock is owned by corporate insiders.

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.