Firestone Capital Management Invests $282,000 in Airbnb, Inc. (NASDAQ:ABNB)

Firestone Capital Management bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,857 shares of the company’s stock, valued at approximately $282,000.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Airbnb during the fourth quarter worth $619,584,000. Jennison Associates LLC lifted its position in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after purchasing an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares in the last quarter. Edgewood Management LLC raised its position in Airbnb by 20.8% in the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Performance

NASDAQ ABNB opened at $117.55 on Tuesday. The firm has a market capitalization of $75.71 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $127.46 and its two-hundred day moving average price is $145.45. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results 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). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that Airbnb, Inc. will post 4.39 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ABNB. Barclays lowered their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Mizuho lowered their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America cut their price objective on shares of Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. B. Riley lowered their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group cut their price target on Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $134.17.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $148.68, for a total transaction of $17,155,441.80. Following the transaction, the chief executive officer now directly owns 14,029,687 shares of the company’s stock, valued at approximately $2,085,933,863.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $148.68, for a total transaction of $17,155,441.80. Following the completion of the sale, the chief executive officer now owns 14,029,687 shares of the company’s stock, valued at approximately $2,085,933,863.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 1,500 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $150.00, for a total transaction of $225,000.00. Following the completion of the transaction, the director now directly owns 42,087 shares in the company, valued at $6,313,050. The disclosure for this sale can be found here. Insiders have sold 449,332 shares of company stock worth $67,263,009 over the last 90 days. Company insiders own 27.83% of the company’s stock.

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.