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

Kazazian Asset Management LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,861 shares of the company’s stock, valued at approximately $3,004,000. Airbnb makes up about 2.3% of Kazazian Asset Management LLC’s investment portfolio, making the stock its 10th largest position.

Several other institutional investors also recently bought and sold shares of the company. CAP Partners LLC boosted its stake in Airbnb by 3.6% in the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock valued at $293,000 after acquiring an additional 77 shares in the last quarter. Lindbrook Capital LLC lifted its stake 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 buying an additional 78 shares during the period. Manchester Capital Management LLC raised 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 purchasing an additional 81 shares during the last quarter. Salvus Wealth Management LLC lifted its position in Airbnb by 2.5% during the fourth quarter. Salvus Wealth Management LLC now owns 3,461 shares of the company’s stock valued at $455,000 after purchasing an additional 84 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Airbnb by 19.3% during the third quarter. First Horizon Advisors Inc. now owns 580 shares of the company’s stock valued at $74,000 after purchasing an additional 94 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Airbnb news, CTO Aristotle N. Balogh sold 700 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $135.35, for a total transaction of $94,745.00. Following the sale, the chief technology officer now directly owns 184,714 shares in the company, valued at $25,001,039.90. This represents a 0.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction 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 trade represents a 52.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,055,209 shares of company stock valued at $289,943,548 in the last 90 days. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of research reports. Barclays boosted their target price on shares of Airbnb from $110.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, February 14th. Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 target price for the company in a research report on Friday, February 14th. Bank of America boosted their target price on shares of Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Robert W. Baird upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $140.00 to $175.00 in a research report on Friday, February 14th. Finally, HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $148.15.

Airbnb Stock Down 1.9 %

Shares of NASDAQ ABNB opened at $124.56 on Wednesday. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The stock has a market cap of $78.54 billion, a PE ratio of 30.16, a P/E/G ratio of 3.52 and a beta of 1.10. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $135.93 and a 200 day moving average of $133.20.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share 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%. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb Company 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.