Oak Associates Ltd. OH Buys New Stake in Airbnb, Inc. $ABNB

Oak Associates Ltd. OH purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,972 shares of the company’s stock, valued at approximately $5,048,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in shares of Airbnb by 97.0% in the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Transamerica Financial Advisors LLC grew its holdings in Airbnb by 143.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after acquiring an additional 112 shares during the period. Entrust Financial LLC purchased a new position in Airbnb during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its position in Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 265,746 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the completion of the transaction, the chief executive officer directly owned 11,206,389 shares in the company, valued at approximately $1,481,708,753.58. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,231,864 shares of company stock worth $308,474,278 in the last quarter. Corporate insiders own 27.21% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $137.57 on Friday. The company has a market capitalization of $82.91 billion, a P/E ratio of 33.88, a P/E/G ratio of 1.50 and a beta of 1.14. The business’s 50 day moving average is $139.68 and its two-hundred day moving average is $134.58. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $150.88.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. Analysts expect that Airbnb, Inc. will post 4.92 EPS for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on Airbnb from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Oppenheimer raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a report on Monday, May 4th. Citizens Jmp boosted their target price on shares of Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Robert W. Baird increased their price target on shares of Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.65.

About Airbnb

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.