Miracle Mile Advisors LLC Buys 68 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Miracle Mile Advisors LLC increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,339 shares of the company’s stock after acquiring an additional 68 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Airbnb were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ABNB. CVA Family Office LLC bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new position in Airbnb during the fourth quarter valued at $27,000. Orion Capital Management LLC purchased a new position in Airbnb during the third quarter valued at $27,000. Bfsg LLC purchased a new position in Airbnb during the fourth quarter valued at $27,000. Finally, Westend Capital Management LLC purchased a new position in Airbnb during the first quarter valued at $33,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of NASDAQ ABNB remained flat at $151.63 during mid-day trading on Monday. The stock had a trading volume of 2,902,193 shares, compared to its average volume of 4,418,835. The company has a market cap of $97.66 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.88 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The firm’s 50 day simple moving average is $150.43 and its two-hundred day simple moving average is $151.03. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Analysts anticipate that Airbnb, Inc. will post 4.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total transaction of $89,382.00. Following the sale, the chief technology officer now directly owns 209,374 shares in the company, valued at $31,190,444.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $148.68, for a total value of $17,155,441.80. Following the sale, the chief executive officer now directly owns 14,029,687 shares in the company, valued at $2,085,933,863.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the sale, the chief technology officer now owns 209,374 shares in the company, valued at $31,190,444.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 413,287 shares of company stock worth $61,071,555. Corporate insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of a number of recent research reports. DA Davidson reiterated a “neutral” rating and set a $145.00 price objective on shares of Airbnb in a research note on Thursday, May 9th. Wedbush upgraded Airbnb from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $165.00 in a research note on Tuesday, May 28th. Benchmark began coverage on Airbnb in a research note on Thursday, April 11th. They issued a “buy” rating and a $190.00 price target for the company. BMO Capital Markets boosted their price target on Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. Finally, Citigroup decreased their price target on Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and an average price target of $152.38.

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.