Firestone Capital Management Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Firestone Capital Management acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,857 shares of the company’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Joel Isaacson & Co. LLC lifted its position in Airbnb by 2.3% during the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after purchasing an additional 67 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of Airbnb by 0.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after acquiring an additional 68 shares during the period. Farrow Financial Inc. boosted its position in shares of Airbnb by 1.0% during the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after acquiring an additional 69 shares in the last quarter. Heritage Wealth Advisors boosted its position in shares of Airbnb by 55.0% during the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Finally, GYL Financial Synergies LLC increased its stake in Airbnb by 5.0% in the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after acquiring an additional 76 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ABNB. Wells Fargo & Company reduced their target price on Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Sanford C. Bernstein dropped their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday. Susquehanna lowered their target price on Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on shares of Airbnb in a report on Thursday, September 5th. They issued an “underweight” rating and a $94.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $134.17.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 1,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the sale, the director now directly owns 42,087 shares of the company’s stock, valued at approximately $6,313,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Airbnb news, Director Joseph Gebbia sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the sale, the director now owns 42,087 shares of the company’s stock, valued at $6,313,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $145.88, for a total value of $145,880.00. Following the transaction, the chief accounting officer now directly owns 44,043 shares in the company, valued at $6,424,992.84. The disclosure for this sale can be found here. Insiders have sold 449,332 shares of company stock valued at $67,263,009 in the last 90 days. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Trading Down 0.2 %

NASDAQ ABNB opened at $117.55 on Tuesday. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $127.46 and a 200 day simple moving average of $145.45. The stock has a market capitalization of $75.71 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Research analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

About Airbnb

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.