Ethic Inc. Boosts Holdings in Airbnb, Inc. $ABNB

Ethic Inc. raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,983 shares of the company’s stock after purchasing an additional 171 shares during the quarter. Ethic Inc.’s holdings in Airbnb were worth $6,186,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its holdings in Airbnb by 1,008.3% in the second quarter. ARK Investment Management LLC now owns 792,529 shares of the company’s stock valued at $104,883,000 after purchasing an additional 721,021 shares during the last quarter. Birch Hill Investment Advisors LLC boosted its stake in shares of Airbnb by 30.4% during the 2nd quarter. Birch Hill Investment Advisors LLC now owns 13,459 shares of the company’s stock worth $1,781,000 after acquiring an additional 3,141 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Airbnb during the 2nd quarter worth about $299,000. D.A. Davidson & CO. boosted its stake in shares of Airbnb by 84.3% during the 2nd quarter. D.A. Davidson & CO. now owns 62,526 shares of the company’s stock worth $8,275,000 after acquiring an additional 28,595 shares in the last quarter. Finally, Wallace Advisory Group LLC boosted its stake in shares of Airbnb by 3.1% during the 2nd quarter. Wallace Advisory Group LLC now owns 6,121 shares of the company’s stock worth $810,000 after acquiring an additional 186 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABNB. Barclays set a $105.00 target price on shares of Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. Phillip Securities raised shares of Airbnb from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 8th. Jefferies Financial Group lowered 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. Zacks Research upgraded Airbnb to a “hold” rating in a report on Tuesday, August 12th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $141.81.

Airbnb Trading Down 0.8%

ABNB stock opened at $127.50 on Thursday. The company has a market cap of $79.23 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.35 and a beta of 1.10. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The firm has a 50-day moving average of $124.36 and a two-hundred day moving average of $127.54.

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

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the completion of the sale, the director owned 704,015 shares in the company, valued at $83,932,668.30. This trade represents a 25.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,425,876 shares of company stock worth $177,336,982 in the last 90 days. Insiders own 27.91% of the company’s stock.

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.