Essex Financial Services Inc. Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Essex Financial Services Inc. acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,761 shares of the company’s stock, valued at approximately $231,000.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Airbnb in the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Airbnb in the 3rd quarter valued at $25,000. Berbice Capital Management LLC purchased a new position in Airbnb in the 4th quarter valued at $26,000. Hollencrest Capital Management increased its stake in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in Airbnb during the 3rd quarter worth $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO David C. Bernstein sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the completion of the sale, the chief accounting officer now owns 40,581 shares in the company, valued at approximately $5,559,597. The trade was a 2.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $128.15, for a total transaction of $89,705.00. Following the completion of the transaction, the chief technology officer now owns 182,614 shares in the company, valued at $23,401,984.10. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,417,704 shares of company stock valued at $187,654,829. 27.83% of the stock is currently owned by company insiders.

Airbnb Stock Up 0.4 %

ABNB opened at $141.04 on Friday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The business has a 50-day moving average of $133.00 and a two-hundred day moving average of $130.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $89.42 billion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. On average, research analysts expect that Airbnb, Inc. will post 3.97 earnings per share for the current year.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. TD Cowen increased their target price on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group raised their price target on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna upped their price objective on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a report on Monday, November 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Airbnb in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $139.38.

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.