Birch Hill Investment Advisors LLC Buys 3,858 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Birch Hill Investment Advisors LLC increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 59.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,318 shares of the company’s stock after purchasing an additional 3,858 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Airbnb were worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ABNB. Principal Securities Inc. grew its stake in shares of Airbnb by 86.8% during the fourth quarter. Principal Securities Inc. now owns 8,415 shares of the company’s stock worth $1,106,000 after purchasing an additional 3,909 shares during the period. Allworth Financial LP grew its position in shares of Airbnb by 11.0% during the 4th quarter. Allworth Financial LP now owns 2,814 shares of the company’s stock worth $373,000 after buying an additional 278 shares during the period. Baillie Gifford & Co. bought a new stake in shares of Airbnb in the 4th quarter valued at about $10,106,000. Capital Performance Advisors LLP raised its position in shares of Airbnb by 226.2% in the 4th quarter. Capital Performance Advisors LLP now owns 3,171 shares of the company’s stock valued at $417,000 after acquiring an additional 2,199 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after acquiring an additional 1,185,892 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $137.13, for a total value of $82,278.00. Following the transaction, the chief technology officer now owns 213,377 shares in the company, valued at approximately $29,260,388.01. The trade was a 0.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathan Blecharczyk sold 2,245 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total value of $300,897.35. Following the completion of the transaction, the insider now directly owns 188,173 shares in the company, valued at approximately $25,220,827.19. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,624,472 shares of company stock worth $203,509,100 in the last 90 days. Insiders own 27.91% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $137.21 on Tuesday. The stock has a fifty day moving average of $126.94 and a 200-day moving average of $130.68. The stock has a market capitalization of $85.95 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, May 14th. Robert W. Baird cut their price objective on shares of Airbnb from $175.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Evercore ISI reduced their target price on shares of Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Citigroup dropped their price target on Airbnb from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Jefferies Financial Group raised Airbnb from a “hold” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.23.

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.