Advisors Asset Management Inc. Raises Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Advisors Asset Management Inc. increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,368 shares of the company’s stock after acquiring an additional 1,479 shares during the quarter. Advisors Asset Management Inc.’s holdings in Airbnb were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New Millennium Group LLC purchased a new position in shares of Airbnb in the second quarter worth $28,000. Pathway Financial Advisers LLC purchased a new position in shares of Airbnb in the first quarter valued at about $33,000. Cultivar Capital Inc. bought a new position in shares of Airbnb during the second quarter valued at about $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the third quarter worth about $25,000. Finally, Hollencrest Capital Management boosted its holdings in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at approximately $21,466,767. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 641,094 shares of company stock worth $81,077,447. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ABNB. DA Davidson upped their price target on Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. upped their target price on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. TD Cowen lifted their price target on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald restated an “underweight” rating and issued a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $138.97.

Airbnb Stock Performance

ABNB stock opened at $137.34 on Monday. The stock has a market capitalization of $87.07 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.15. The stock’s 50 day simple moving average is $132.73 and its 200 day simple moving average is $135.54. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period last year, the firm posted $2.39 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 4.02 earnings per share 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.