Essential Planning LLC. Acquires New Position in Airbnb, Inc. (NASDAQ:ABNB)

Essential Planning LLC. acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, Holdings Channel reports. The firm acquired 2,877 shares of the company’s stock, valued at approximately $387,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Verde Capital Management raised its stake in Airbnb by 25.3% in the 4th quarter. Verde Capital Management now owns 21,118 shares of the company’s stock valued at $2,775,000 after acquiring an additional 4,269 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Airbnb in the 3rd quarter valued at about $34,982,000. Tri Ri Asset Management Corp bought a new stake in Airbnb in the 3rd quarter valued at about $6,352,000. Baltimore Washington Financial Advisors Inc. increased its position in shares of Airbnb by 14.8% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 49,447 shares of the company’s stock valued at $6,498,000 after buying an additional 6,357 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Airbnb by 40.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock valued at $90,123,000 after buying an additional 197,558 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Performance

NASDAQ:ABNB opened at $119.38 on Friday. The firm has a market cap of $75.27 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The business has a 50 day moving average price of $136.49 and a 200-day moving average price of $132.80.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upgraded Airbnb from a “hold” rating to a “buy” rating and upped their price target for the company from $165.00 to $185.00 in a research report on Monday. Morgan Stanley upped their price target on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. B. Riley upped their price target on Airbnb from $131.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Susquehanna upped their price target on Airbnb from $160.00 to $200.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Finally, HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average price target of $148.00.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.80, for a total value of $27,171,338.00. Following the completion of the transaction, the director now owns 214,290 shares in the company, valued at approximately $27,171,972. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $130.18, for a total value of $91,126.00. Following the completion of the transaction, the chief technology officer now owns 172,119 shares of the company’s stock, valued at approximately $22,406,451.42. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,269,494 shares of company stock worth $318,203,453 over the last quarter. 27.83% of the stock is owned by corporate insiders.

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.