Summa Corp. Invests $201,000 in Airbnb, Inc. (NASDAQ:ABNB)

Summa Corp. acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,532 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in Airbnb in the 3rd quarter valued at $25,000. Hollencrest Capital Management raised its position 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 purchasing an additional 200 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in Airbnb in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new stake in Airbnb in the 3rd quarter valued at $30,000. Finally, Quarry LP purchased a new stake in Airbnb in the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 38,461 shares of Airbnb stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $133.19, for a total transaction of $5,122,620.59. Following the sale, the chief executive officer now directly owns 12,460,447 shares in the company, valued at $1,659,606,935.93. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $135.47, for a total transaction of $94,829.00. Following the sale, the chief technology officer now owns 183,314 shares in the company, valued at approximately $24,833,547.58. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,157,308 shares of company stock worth $153,981,848. 27.83% of the stock is owned by insiders.

Airbnb Stock Performance

Airbnb stock opened at $132.58 on Thursday. The company has a market cap of $84.05 billion, a PE ratio of 46.52, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a fifty day moving average price of $133.84 and a two-hundred day moving average price of $130.88. 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.

Airbnb (NASDAQ:ABNB) last posted 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 company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the business posted $2.39 earnings per share. Research analysts expect that Airbnb, Inc. will post 3.98 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on ABNB shares. Truist Financial reduced their price target on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their price target on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group raised their price target on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Cantor Fitzgerald reiterated an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $139.63.

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.