Airbnb, Inc. $ABNB Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 24.4% during the second quarter, HoldingsChannel reports. The firm owned 1,261,231 shares of the company’s stock after buying an additional 247,417 shares during the period. Envestnet Asset Management Inc.’s holdings in Airbnb were worth $166,911,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ABNB. Vanguard Group Inc. increased its position in Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock valued at $4,475,286,000 after acquiring an additional 604,120 shares during the period. Harris Associates L P grew its stake in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Airbnb by 2.5% in the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after purchasing an additional 106,135 shares during the period. AQR Capital Management LLC increased its holdings in shares of Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock worth $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ABNB shares. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an “underweight” rating in a research report on Thursday, August 7th. 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. BTIG Research reissued a “neutral” rating on shares of Airbnb in a report on Tuesday, October 7th. KeyCorp began coverage on shares of Airbnb in a research report on Thursday, October 23rd. They issued a “sector weight” rating for the company. Finally, Citizens Jmp upgraded Airbnb to a “hold” rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $141.70.

Airbnb Price Performance

ABNB opened at $128.01 on Wednesday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The stock has a market cap of $79.55 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.35 and a beta of 1.10. The stock’s 50 day simple moving average is $124.59 and its 200 day simple moving average is $128.20.

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

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $119.22, for a total value of $28,135,920.00. Following the sale, the director owned 704,015 shares of the company’s stock, valued at $83,932,668.30. This represents a 25.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 12,184 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $127.65, for a total transaction of $1,555,287.60. Following the transaction, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at approximately $56,685,535.50. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,438,660 shares of company stock valued at $178,968,787. Insiders own 27.83% 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.