Amalgamated Bank Boosts Holdings in Airbnb, Inc. $ABNB

Amalgamated Bank boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,730 shares of the company’s stock after buying an additional 2,505 shares during the period. Amalgamated Bank’s holdings in Airbnb were worth $12,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABNB. Koshinski Asset Management Inc. grew its position in Airbnb by 4.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $237,000 after buying an additional 83 shares during the last quarter. Mather Group LLC. grew its position in Airbnb by 43.6% in the 1st quarter. Mather Group LLC. now owns 2,004 shares of the company’s stock valued at $239,000 after buying an additional 608 shares during the last quarter. Vontobel Holding Ltd. grew its position in Airbnb by 21.4% in the 1st quarter. Vontobel Holding Ltd. now owns 44,335 shares of the company’s stock valued at $5,296,000 after buying an additional 7,819 shares during the last quarter. FSM Wealth Advisors LLC purchased a new position in Airbnb in the 1st quarter valued at $343,000. Finally, Aaron Wealth Advisors LLC grew its position in Airbnb by 7.0% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,274 shares of the company’s stock valued at $511,000 after buying an additional 281 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $130.00, for a total value of $975,000.00. Following the sale, the chief financial officer directly owned 436,570 shares in the company, valued at $56,754,100. The trade was a 1.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $128.47, for a total transaction of $30,318,920.00. Following the completion of the sale, the director owned 468,015 shares in the company, valued at $60,125,887.05. This represents a 33.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,682,160 shares of company stock worth $210,262,707 in the last three months. Corporate insiders own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of analyst reports. KeyCorp initiated coverage on shares of Airbnb in a research report on Thursday, October 23rd. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. Finally, BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $141.70.

Airbnb Stock Down 0.1%

Airbnb stock opened at $126.34 on Friday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm’s 50-day simple moving average is $124.62 and its 200 day simple moving average is $128.27. The firm has a market capitalization of $78.51 billion, a PE ratio of 30.59, a P/E/G ratio of 2.30 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data 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 net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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.