Pallas Capital Advisors LLC Buys 2,441 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Pallas Capital Advisors LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 18.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,663 shares of the company’s stock after acquiring an additional 2,441 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Airbnb were worth $2,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. Pacer Advisors Inc. lifted its stake in Airbnb by 6,085.6% during the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Meritage Group LP purchased a new position in shares of Airbnb during the 3rd quarter valued at about $160,985,000. Edgewood Management LLC raised its holdings in shares of Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares in the last quarter. International Assets Investment Management LLC lifted its position in Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after buying an additional 1,113,747 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its position in Airbnb by 91.3% during the third quarter. Temasek Holdings Private Ltd now owns 2,324,151 shares of the company’s stock valued at $294,726,000 after acquiring an additional 1,109,076 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Airbnb stock opened at $128.85 on Tuesday. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $81.69 billion, a P/E ratio of 45.21, a PEG ratio of 1.93 and a beta of 1.13. The stock’s 50 day moving average is $134.82 and its 200 day moving average is $132.39.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period in the prior year, the company posted $2.39 earnings per share. On average, equities research analysts predict that Airbnb, Inc. will post 3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the sale, the director now owns 10,321 shares of the company’s stock, valued at $1,352,876.68. This trade represents a 95.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the transaction, the insider now owns 164,850 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 915,997 shares of company stock worth $122,800,660. 27.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Airbnb in a research report on Friday, November 8th. Wedbush raised their price objective on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Bank of America raised their price target on Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.32.

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.