Harvest Portfolios Group Inc. Has $7.81 Million Stock Position in Airbnb, Inc. $ABNB

Harvest Portfolios Group Inc. trimmed its position in Airbnb, Inc. (NASDAQ:ABNB) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,530 shares of the company’s stock after selling 4,543 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Airbnb were worth $7,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in shares of Airbnb by 14.0% in the fourth quarter. Handelsbanken Fonder AB now owns 172,611 shares of the company’s stock worth $23,427,000 after purchasing an additional 21,138 shares in the last quarter. Integral Investment Advisors Inc. lifted its position in shares of Airbnb by 7.2% in the fourth quarter. Integral Investment Advisors Inc. now owns 1,798 shares of the company’s stock worth $244,000 after purchasing an additional 120 shares in the last quarter. Capstone Capital Management Ltd purchased a new stake in shares of Airbnb in the fourth quarter worth approximately $686,000. Profund Advisors LLC lifted its position in shares of Airbnb by 0.9% in the fourth quarter. Profund Advisors LLC now owns 55,264 shares of the company’s stock worth $7,500,000 after purchasing an additional 494 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Airbnb by 37.4% during the fourth quarter. ProShare Advisors LLC now owns 739,600 shares of the company’s stock valued at $100,379,000 after acquiring an additional 201,335 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABNB. TD Cowen raised their price objective on shares of Airbnb from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 13th. DA Davidson raised their price objective on shares of Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Needham & Company LLC began coverage on shares of Airbnb in a research report on Monday, May 4th. They set a “buy” rating on the stock. Scotiabank began coverage on shares of Airbnb in a research report on Monday, May 4th. They set an “outperform” rating on the stock. Finally, Barclays raised their price objective on shares of Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.67.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction on Monday, May 4th. The stock was sold at an average price of $143.00, for a total transaction of $536,250.00. Following the completion of the transaction, the chief financial officer directly owned 463,415 shares of the company’s stock, valued at approximately $66,268,345. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 627 shares of Airbnb stock in a transaction on Monday, May 11th. The shares were sold at an average price of $145.67, for a total value of $91,335.09. Following the transaction, the insider directly owned 11,920 shares of the company’s stock, valued at approximately $1,736,386.40. The trade was a 5.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 459,838 shares of company stock worth $62,185,245 over the last 90 days. Corporate insiders own 27.21% of the company’s stock.

Airbnb Trading Down 2.3%

Shares of Airbnb stock opened at $131.16 on Wednesday. The company’s fifty day simple moving average is $133.49 and its 200-day simple moving average is $129.70. The company has a market cap of $79.05 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 1.44 and a beta of 1.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $147.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.91 EPS for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.