Tri Ri Asset Management Corp Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Tri Ri Asset Management Corp acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 50,092 shares of the company’s stock, valued at approximately $6,352,000. Airbnb accounts for about 3.2% of Tri Ri Asset Management Corp’s portfolio, making the stock its 10th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABNB. Northwest Investment Counselors LLC bought a new stake in shares of Airbnb during the 3rd quarter worth about $25,000. Hollencrest Capital Management boosted its holdings in shares of Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. New Millennium Group LLC acquired a new stake in Airbnb in the 2nd quarter worth about $28,000. Cultivar Capital Inc. acquired a new stake in Airbnb in the 2nd quarter worth about $30,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Airbnb in the 3rd quarter worth about $30,000. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO David C. Bernstein sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $137.00, for a total transaction of $137,000.00. Following the transaction, the chief accounting officer now directly owns 40,581 shares of the company’s stock, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 787,926 shares of company stock worth $101,440,343. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $137.47 on Friday. 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 fifty day moving average price is $135.89 and its two-hundred day moving average price is $134.95. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a market cap of $87.15 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 1.93 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data 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). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $2.39 EPS. On average, analysts expect that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the subject of several analyst reports. DA Davidson lifted their price objective on shares of Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Mizuho dropped their target price on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Robert W. Baird boosted their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barclays boosted their target price on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, Citigroup boosted their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Six equities research 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $138.94.

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.