Kazazian Asset Management LLC Takes $3 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Kazazian Asset Management LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,861 shares of the company's stock, valued at approximately $3,004,000. Airbnb makes up approximately 2.3% of Kazazian Asset Management LLC's portfolio, making the stock its 10th largest holding.

Several other hedge funds also recently modified their holdings of the stock. CAP Partners LLC grew its holdings in Airbnb by 3.6% during the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company's stock worth $293,000 after purchasing an additional 77 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Airbnb by 1.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company's stock worth $728,000 after acquiring an additional 78 shares during the period. Manchester Capital Management LLC boosted its holdings in shares of Airbnb by 18.2% during the fourth quarter. Manchester Capital Management LLC now owns 527 shares of the company's stock worth $69,000 after acquiring an additional 81 shares during the period. Salvus Wealth Management LLC boosted its holdings in shares of Airbnb by 2.5% during the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company's stock worth $455,000 after acquiring an additional 84 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Airbnb by 19.3% during the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company's stock worth $74,000 after acquiring an additional 94 shares during the period. Institutional investors own 80.76% of the company's stock.

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Insider Activity

In related news, Director Joseph Gebbia sold 214,285 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $135.94, for a total value of $29,129,902.90. Following the completion of the transaction, the director now directly owns 1,285,715 shares of the company's stock, valued at approximately $174,780,097.10. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,772 shares of Airbnb stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the completion of the transaction, the chief executive officer now owns 12,000,913 shares of the company's stock, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,094,370 shares of company stock valued at $294,900,910 in the last three months. Company insiders own 27.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABNB. DA Davidson boosted their price objective on Airbnb from $131.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Truist Financial lowered their price objective on shares of Airbnb from $123.00 to $112.00 and set a "hold" rating for the company in a research report on Friday. UBS Group upped their price target on shares of Airbnb from $143.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a report on Friday, February 14th. Finally, Morgan Stanley upped their price target on shares of Airbnb from $115.00 to $125.00 and gave the stock an "underweight" rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $147.82.

Airbnb Stock Up 2.1 %

NASDAQ:ABNB traded up $2.65 on Friday, hitting $128.80. The stock had a trading volume of 8,703,802 shares, compared to its average volume of 4,414,497. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market cap of $81.21 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.00. The firm's fifty day simple moving average is $135.72 and its two-hundred day simple moving average is $133.30.

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

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.