DRH Investments Inc. Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

DRH Investments Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,100 shares of the company's stock, valued at approximately $8,423,000. Airbnb comprises 9.7% of DRH Investments Inc.'s investment portfolio, making the stock its 8th largest holding.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Airbnb during the fourth quarter worth $433,374,000. Clearbridge Investments LLC raised its position in Airbnb by 147.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after acquiring an additional 2,590,475 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock worth $245,268,000 after buying an additional 1,185,892 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of Airbnb by 8,324.9% in the 4th quarter. Parnassus Investments LLC now owns 655,539 shares of the company's stock worth $86,144,000 after acquiring an additional 647,758 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after purchasing an additional 558,856 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

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Wall Street Analyst Weigh In

ABNB has been the subject of a number of research reports. HSBC upgraded Airbnb from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Wedbush restated an "outperform" rating and issued a $155.00 price objective on shares of Airbnb in a research note on Tuesday, February 4th. Morgan Stanley upped their price target on Airbnb from $115.00 to $125.00 and gave the company an "underweight" rating in a research report on Monday, January 13th. Evercore ISI lifted their price target on Airbnb to $155.00 and gave the company a "hold" rating in a report on Wednesday, January 15th. Finally, Baird R W upgraded shares of Airbnb from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $146.56.

Airbnb Trading Down 1.6 %

ABNB stock traded down $1.78 during mid-day trading on Wednesday, reaching $112.86. The company's stock had a trading volume of 2,306,805 shares, compared to its average volume of 5,489,651. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 3.52 and a beta of 1.15. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $166.74. The business's 50 day moving average price is $130.52 and its 200 day moving average price is $132.63. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. On average, equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the transaction, the chief financial officer now directly owns 491,330 shares in the company, valued at approximately $58,959,600. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $158.00, for a total value of $28,926,324.00. Following the sale, the insider now owns 164,850 shares in the company, valued at approximately $26,046,300. This represents a 52.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,036,607 shares of company stock valued at $280,762,098 in the last three months. 27.83% of the stock is currently owned by insiders.

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.