First Long Island Investors LLC Buys 1,069 Shares of Airbnb, Inc. (NASDAQ:ABNB)

First Long Island Investors LLC boosted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,283 shares of the company’s stock after purchasing an additional 1,069 shares during the period. First Long Island Investors LLC’s holdings in Airbnb were worth $11,068,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in Airbnb during the first quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Airbnb during the 2nd quarter worth $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of Airbnb in the 1st quarter worth $33,000. Cultivar Capital Inc. purchased a new stake in shares of Airbnb in the 2nd quarter worth $30,000. Finally, Northwest Investment Counselors LLC bought a new position in Airbnb in the 3rd quarter worth $25,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Trading Down 1.4 %

Shares of NASDAQ:ABNB traded down $1.85 during trading hours on Friday, hitting $132.71. 631,891 shares of the company’s stock traded hands, compared to its average volume of 4,496,708. The firm has a market capitalization of $85.15 billion, a P/E ratio of 47.21, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The business has a fifty day moving average price of $130.62 and a 200-day moving average price of $136.94. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate 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 business posted $2.39 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Insider Activity

In related news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This represents a 72.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares in the company, valued at approximately $23,579,141.36. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on ABNB shares. Wedbush upped their price target on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley raised their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Argus lowered shares of Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Sanford C. Bernstein decreased their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Finally, Bank of America reaffirmed a “hold” rating and issued a $142.00 target price (up previously from $132.00) on shares of Airbnb in a report on Friday, October 11th. Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.31.

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.