GC Wealth Management RIA LLC Purchases New Shares in Airbnb, Inc. $ABNB

GC Wealth Management RIA LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,106 shares of the company’s stock, valued at approximately $2,131,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Scott & Selber Inc. bought a new stake in Airbnb during the 2nd quarter valued at about $2,470,000. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Airbnb by 3.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 930,050 shares of the company’s stock valued at $123,083,000 after buying an additional 32,108 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Airbnb by 25.5% during the second quarter. Avior Wealth Management LLC now owns 2,395 shares of the company’s stock valued at $317,000 after acquiring an additional 486 shares in the last quarter. Sage Rhino Capital LLC increased its position in shares of Airbnb by 1.9% during the second quarter. Sage Rhino Capital LLC now owns 9,924 shares of the company’s stock valued at $1,313,000 after acquiring an additional 185 shares in the last quarter. Finally, ORG Wealth Partners LLC raised its holdings in Airbnb by 11.3% in the 2nd quarter. ORG Wealth Partners LLC now owns 4,003 shares of the company’s stock worth $542,000 after acquiring an additional 408 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

ABNB stock opened at $122.92 on Tuesday. The firm has a fifty day moving average price of $127.39 and a 200 day moving average price of $127.71. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a market cap of $76.39 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. On average, equities analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

ABNB has been the subject of several research analyst reports. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the stock a “market perform” rating in a report on Thursday, August 7th. Morgan Stanley reduced their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, August 7th. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Wedbush cut their target price on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Airbnb to a “hold” rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $141.46.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $122.91, for a total transaction of $73,746.00. Following the transaction, the chief technology officer directly owned 199,006 shares in the company, valued at approximately $24,459,827.46. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the sale, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,438,326 shares of company stock worth $186,735,385. Insiders own 27.83% of the company’s stock.

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.