Kovack Advisors Inc. Sells 3,153 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Kovack Advisors Inc. lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,354 shares of the company’s stock after selling 3,153 shares during the quarter. Kovack Advisors Inc.’s holdings in Airbnb were worth $865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Compagnie Lombard Odier SCmA grew its stake in shares of Airbnb by 34.7% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock worth $4,304,000 after purchasing an additional 8,140 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Airbnb by 4.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after acquiring an additional 333 shares during the last quarter. Nordea Investment Management AB boosted its position in Airbnb by 27.5% during the fourth quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock valued at $172,742,000 after acquiring an additional 273,191 shares during the last quarter. LGT Group Foundation boosted its position in Airbnb by 8.1% during the third quarter. LGT Group Foundation now owns 316,545 shares of the company’s stock valued at $43,227,000 after acquiring an additional 23,716 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in Airbnb by 14.4% during the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after acquiring an additional 12,008 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ABNB shares. B. Riley assumed coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. B. Riley Financial assumed coverage on shares of Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price objective on the stock. Truist Financial upped their price objective on shares of Airbnb from $118.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Susquehanna upped their price objective on shares of Airbnb from $160.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada increased their price objective on shares of Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus price target of $149.19.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 78,682 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares in the company, valued at approximately $24,435,238.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the transaction, the chief technology officer now owns 144,331 shares in the company, valued at approximately $24,435,238.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $163.00, for a total transaction of $97,800.00. Following the completion of the transaction, the chief technology officer now owns 144,931 shares in the company, valued at approximately $23,623,753. The disclosure for this sale can be found here. In the last quarter, insiders have sold 456,274 shares of company stock worth $72,410,859. 30.84% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

Airbnb stock opened at $164.23 on Friday. The firm’s fifty day moving average price is $160.44 and its 200-day moving average price is $143.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $106.27 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25. Airbnb, Inc. has a fifty-two week low of $103.55 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. On average, equities research analysts expect that Airbnb, Inc. will post 4.47 earnings per share for the current fiscal year.

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.