Airbnb, Inc. $ABNB Position Increased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lifted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 21.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,938 shares of the company’s stock after purchasing an additional 1,574 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Airbnb were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Airbnb by 21.3% in the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 58,502 shares of the company’s stock worth $7,742,000 after purchasing an additional 10,253 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Airbnb by 24.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,261,231 shares of the company’s stock valued at $166,911,000 after purchasing an additional 247,417 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Airbnb by 8.2% during the second quarter. Wealthfront Advisers LLC now owns 18,011 shares of the company’s stock valued at $2,384,000 after purchasing an additional 1,360 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Airbnb by 13.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 190,799 shares of the company’s stock valued at $25,250,000 after purchasing an additional 22,240 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after purchasing an additional 160 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Up 0.8%

Shares of NASDAQ ABNB opened at $129.07 on Tuesday. The firm’s 50-day simple moving average is $124.55 and its 200 day simple moving average is $128.10. The company has a market cap of $80.21 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results 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 business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 2,246 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider owned 182,514 shares in the company, valued at $22,850,752.80. This represents a 1.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $120.46, for a total transaction of $72,276.00. Following the transaction, the chief technology officer owned 197,806 shares in the company, valued at approximately $23,827,710.76. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,426,476 shares of company stock worth $177,413,500 in the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of several research analyst reports. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. UBS Group decreased their price target on shares of Airbnb from $148.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a research note on Wednesday, July 16th. BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley decreased their price target on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $141.70.

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.