Harel Insurance Investments & Financial Services Ltd. Has $2.10 Million Position in Airbnb, Inc. $ABNB

Harel Insurance Investments & Financial Services Ltd. reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 49.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 16,650 shares of the company’s stock after selling 16,424 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Airbnb were worth $2,101,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Merit Financial Group LLC raised its holdings in Airbnb by 72.1% in the 4th quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock valued at $4,478,000 after acquiring an additional 13,818 shares in the last quarter. North Dakota State Investment Board bought a new position in shares of Airbnb in the fourth quarter worth $2,785,000. North Star Asset Management Inc. raised its stake in Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock valued at $10,663,000 after purchasing an additional 9,294 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Airbnb by 18.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock valued at $30,305,000 after purchasing an additional 34,573 shares in the last quarter. Finally, Danske Bank A S lifted its position in Airbnb by 11.0% during the fourth quarter. Danske Bank A S now owns 235,557 shares of the company’s stock worth $31,970,000 after purchasing an additional 23,422 shares during the period. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 13,615 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the completion of the transaction, the insider owned 81,677 shares of the company’s stock, valued at approximately $12,118,416.49. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth I. Chenault sold 8,346 shares of Airbnb stock in a transaction on Monday, June 29th. The shares were sold at an average price of $150.00, for a total value of $1,251,900.00. Following the sale, the director directly owned 40,879 shares of the company’s stock, valued at $6,131,850. This represents a 16.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,325,429 shares of company stock valued at $321,925,435. 27.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HSBC lowered shares of Airbnb from a “hold” rating to a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 price objective on shares of Airbnb in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Rodman & Renshaw assumed coverage on shares of Airbnb in a research report on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.96.

Airbnb Price Performance

Airbnb stock opened at $148.38 on Thursday. The company’s 50 day moving average price is $138.89 and its two-hundred day moving average price is $134.26. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.75. The stock has a market cap of $89.43 billion, a P/E ratio of 36.55, a P/E/G ratio of 1.57 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. On average, equities analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Airbnb Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.