Airbnb, Inc. $ABNB Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,767 shares of the company’s stock after purchasing an additional 141 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Airbnb were worth $896,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Kentucky Trust Co acquired a new stake in Airbnb in the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. Stonebridge Financial Group LLC boosted its stake in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its position in Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of research analyst reports. Zacks Research raised shares of Airbnb to a “hold” rating in a report on Tuesday, August 12th. BMO Capital Markets set a $124.00 target price on Airbnb and gave the company a “market perform” rating in a research report on Thursday, August 7th. Morgan Stanley lowered their price target on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group cut their price objective on Airbnb from $165.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Three 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, the stock has a consensus rating of “Hold” and an average target price of $141.81.

Airbnb Stock Down 1.1%

Shares of ABNB stock opened at $122.89 on Friday. The stock has a market cap of $76.37 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. The business has a 50-day simple moving average of $123.89 and a 200-day simple moving average of $127.24. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

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

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider owned 182,514 shares of the company’s stock, valued at approximately $22,850,752.80. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David C. Bernstein sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares of the company’s stock, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,666,876 shares of company stock valued at $210,819,940 in the last quarter. Company insiders own 27.91% of the company’s stock.

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.