Savoie Capital LLC Takes $1.27 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Savoie Capital LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the company's stock, valued at approximately $1,268,000.

Several other hedge funds have also recently modified their holdings of the stock. Edgewood Management LLC raised its stake in shares of Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company's stock valued at $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. Pacer Advisors Inc. raised its position in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company's stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the period. Legal & General Group Plc lifted its stake in Airbnb by 4.7% in the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company's stock worth $519,044,000 after purchasing an additional 153,784 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Airbnb by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company's stock valued at $343,185,000 after buying an additional 52,358 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Airbnb by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company's stock valued at $299,272,000 after buying an additional 80,610 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

ABNB stock traded up $1.19 during mid-day trading on Tuesday, reaching $138.46. 3,201,434 shares of the company's stock were exchanged, compared to its average volume of 4,511,631. 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, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The stock's 50 day moving average is $135.13 and its 200 day moving average is $134.95. The company has a market cap of $87.78 billion, a price-to-earnings ratio of 48.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its 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 analysts' expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter last year, the business earned $2.39 EPS. On average, research analysts expect that Airbnb, Inc. will post 3.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABNB. UBS Group boosted their price objective on Airbnb from $134.00 to $144.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. DA Davidson boosted their target price on shares of Airbnb from $125.00 to $131.00 and gave the company a "neutral" rating in a research note on Monday, November 18th. Bank of America reaffirmed a "hold" rating and issued a $142.00 price target (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Susquehanna boosted their price objective on shares of Airbnb from $130.00 to $160.00 and gave the company a "positive" rating in a research report on Monday, November 11th. Finally, Benchmark reaffirmed a "buy" rating and set a $155.00 target price on shares of Airbnb in a research report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $138.94.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 19,448 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $137.14, for a total transaction of $2,667,098.72. Following the transaction, the director now directly owns 2,509 shares in the company, valued at approximately $344,084.26. The trade was a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the sale, the chief technology officer now directly owns 185,414 shares of the company's stock, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 748,465 shares of company stock worth $96,015,340 in the last 90 days. Insiders own 27.83% of the company's stock.

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.