Cherrydale Wealth Management LLC Purchases New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Cherrydale Wealth Management LLC purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,908 shares of the company’s stock, valued at approximately $382,000.

A number of other hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Airbnb in the third quarter worth $25,000. Hollencrest Capital Management increased its position in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the period. Ashton Thomas Securities LLC bought a new position in Airbnb in the third quarter worth about $30,000. Quarry LP purchased a new position in shares of Airbnb in the 3rd quarter valued at approximately $55,000. Finally, CVA Family Office LLC boosted its holdings in shares of Airbnb by 131.2% during the 3rd quarter. CVA Family Office LLC now owns 474 shares of the company’s stock valued at $60,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABNB shares. Wedbush upped their price objective on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Airbnb in a report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Piper Sandler increased their price target on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Bank of America upped their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $139.63.

Airbnb Stock Up 2.2 %

Shares of ABNB traded up $2.96 during midday trading on Friday, reaching $135.12. 3,740,209 shares of the stock were exchanged, compared to its average volume of 3,539,122. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $134.16 and its two-hundred day moving average is $132.11. The company has a market capitalization of $85.66 billion, a P/E ratio of 47.41, a PEG ratio of 1.63 and a beta of 1.13. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 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 prior year, the firm posted $2.39 EPS. On average, sell-side analysts anticipate that Airbnb, Inc. will post 3.99 earnings per share for the current year.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the transaction, the director now directly owns 16,472 shares in the company, valued at $2,259,958.40. The trade was a 41.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $129.82, for a total value of $90,874.00. Following the completion of the sale, the chief technology officer now owns 184,014 shares of the company’s stock, valued at approximately $23,888,697.48. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,130,982 shares of company stock valued at $150,523,585. Corporate insiders own 27.83% of the company’s stock.

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.