IFP Advisors Inc Boosts Holdings in Airbnb, Inc. $ABNB

IFP Advisors Inc increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,398 shares of the company’s stock after purchasing an additional 99 shares during the period. IFP Advisors Inc’s holdings in Airbnb were worth $317,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in Airbnb by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company’s stock worth $604,000 after buying an additional 78 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock worth $88,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock worth $237,000 after purchasing an additional 83 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after purchasing an additional 83 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in shares of Airbnb by 31.6% during the first quarter. Rakuten Securities Inc. now owns 379 shares of the company’s stock worth $45,000 after purchasing an additional 91 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $119.22, for a total value of $28,135,920.00. Following the completion of the sale, the director owned 704,015 shares in the company, valued at approximately $83,932,668.30. The trade was a 25.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,666,876 shares of company stock valued at $210,819,940 in the last 90 days. Company insiders own 27.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ABNB. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the company a “market perform” rating in a research note on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a “hold” rating in a research report on Monday, August 11th. Mizuho initiated coverage on Airbnb in a research report on Monday, September 29th. They set an “outperform” rating and a $151.00 price target for the company. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a report on Tuesday, October 7th. Finally, Barclays set a $105.00 target price on shares of Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $141.81.

Airbnb Stock Performance

Shares of Airbnb stock opened at $124.26 on Thursday. The firm has a market capitalization of $77.22 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.24 and a beta of 1.10. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a 50 day moving average of $123.83 and a 200 day moving average of $127.21.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Airbnb’s revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current 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.