NorthCrest Asset Manangement LLC Raises Stock Position in Airbnb, Inc. $ABNB

NorthCrest Asset Manangement LLC raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 95.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,829 shares of the company’s stock after purchasing an additional 7,716 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Airbnb were worth $2,151,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hutchens & Kramer Investment Management Group LLC acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $207,000. Maridea Wealth Management LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at approximately $1,726,000. Procyon Advisors LLC lifted its holdings in Airbnb by 19.8% in the fourth quarter. Procyon Advisors LLC now owns 9,254 shares of the company’s stock valued at $1,256,000 after acquiring an additional 1,528 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Airbnb by 8.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,522 shares of the company’s stock valued at $207,000 after acquiring an additional 115 shares during the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in Airbnb in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 3.2%

Shares of NASDAQ ABNB opened at $132.59 on Tuesday. The business’s 50 day moving average is $129.19 and its two-hundred day moving average is $126.76. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $143.88. The firm has a market cap of $80.71 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 1.57 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets raised their target price on Airbnb from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Benchmark lowered their price target on Airbnb from $155.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 13th. Jefferies Financial Group raised their price objective on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. UBS Group boosted their price objective on shares of Airbnb from $147.00 to $149.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Finally, B. Riley Financial raised shares of Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $170.00 in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $147.40.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $130.00, for a total transaction of $487,500.00. Following the completion of the transaction, the chief financial officer directly owned 402,417 shares in the company, valued at $52,314,210. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $136.70, for a total value of $7,928,600.00. Following the completion of the transaction, the director directly owned 576,015 shares of the company’s stock, valued at approximately $78,741,250.50. This represents a 9.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 363,510 shares of company stock valued at $47,422,070. Corporate insiders own 27.91% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.