Forte Capital LLC ADV Decreases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Forte Capital LLC ADV cut its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,571 shares of the company’s stock after selling 373 shares during the quarter. Forte Capital LLC ADV’s holdings in Airbnb were worth $350,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb in the third quarter worth about $27,000. Bfsg LLC acquired a new stake in shares of Airbnb during the 4th quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Airbnb in the 4th quarter valued at $30,000. Finally, Farmers & Merchants Investments Inc. acquired a new position in shares of Airbnb in the 3rd quarter valued at $39,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Up 0.9 %

Shares of ABNB traded up $1.38 during mid-day trading on Friday, hitting $159.71. 4,529,908 shares of the company’s stock were exchanged, compared to its average volume of 3,159,564. The company has a market cap of $103.34 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.10 and a beta of 1.24. Airbnb, Inc. has a fifty-two week low of $103.55 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50-day moving average is $161.18 and its 200-day moving average is $144.52.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The business 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, sell-side analysts anticipate that Airbnb, Inc. will post 4.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Airbnb from $118.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. BMO Capital Markets boosted their target price on shares of Airbnb from $134.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Royal Bank of Canada boosted their target price 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. Barclays upped their price objective on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, January 29th. Finally, Piper Sandler upped their price objective on shares of Airbnb from $136.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $149.19.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 76,912 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $147.79, for a total value of $11,366,824.48. Following the sale, the chief executive officer now owns 14,545,529 shares of the company’s stock, valued at $2,149,683,730.91. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Airbnb news, CFO Dave Stephenson sold 7,838 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total value of $1,144,191.24. Following the transaction, the chief financial officer now directly owns 85,802 shares in the company, valued at $12,525,375.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 76,912 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the completion of the transaction, the chief executive officer now owns 14,545,529 shares in the company, valued at $2,149,683,730.91. The disclosure for this sale can be found here. Insiders have sold a total of 396,874 shares of company stock valued at $63,712,671 over the last 90 days. 27.83% of the stock is owned by corporate insiders.

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.