Airbnb, Inc. (NASDAQ:ABNB) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC increased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 0.7% during the 1st quarter, Holdings Channel reports. The fund owned 9,339 shares of the company’s stock after purchasing an additional 68 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Airbnb were worth $1,541,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at $26,000. Trust Co. of Vermont acquired a new stake in shares of Airbnb in the fourth quarter valued at $27,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb in the third quarter valued at $27,000. Bfsg LLC acquired a new stake in shares of Airbnb in the fourth quarter valued at $27,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Airbnb in the first quarter valued at $33,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ:ABNB remained flat at $151.63 during mid-day trading on Monday. 2,902,193 shares of the company were exchanged, compared to its average volume of 4,418,835. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The stock has a market cap of $97.66 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10. The firm’s fifty day moving average price is $150.43 and its 200 day moving average price is $151.03.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.65 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the sale, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Joseph Gebbia sold 44,990 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares of the company’s stock, valued at approximately $6,971,908.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO David C. Bernstein sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total transaction of $882,000.00. Following the transaction, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at $6,915,321. The disclosure for this sale can be found here. In the last three months, insiders sold 413,287 shares of company stock worth $61,071,555. Company insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ABNB. HSBC lowered Airbnb from a “buy” rating to a “hold” rating and dropped their target price for the company from $160.00 to $156.00 in a report on Thursday, May 9th. TD Cowen dropped their target price on Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Wells Fargo & Company increased their target price on Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a report on Monday, April 1st. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and increased their target price for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Finally, Tigress Financial increased their target price on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $152.38.

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.