Andra AP fonden grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 63.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,430 shares of the company’s stock after buying an additional 64,400 shares during the quarter. Andra AP fonden’s holdings in Airbnb were worth $23,673,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. Meeder Asset Management Inc. boosted 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 purchasing an additional 105 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in shares of Airbnb in the 4th quarter valued at approximately $31,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Airbnb in the 4th quarter valued at approximately $31,000. Main Street Group LTD bought a new position in shares of Airbnb in the first quarter valued at $29,000. Finally, Western Wealth Management LLC bought a new position in shares of Airbnb in the first quarter valued at $34,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Airbnb
In related news, Director Joseph Gebbia Jr. sold 294,903 shares of Airbnb stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the sale, the director directly owned 2,622,452 shares of the company’s stock, valued at approximately $389,250,550.36. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the transaction, the insider directly owned 171,370 shares in the company, valued at approximately $29,888,641.70. This represents a 75.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,008,050 shares of company stock worth $336,626,970. Company insiders own 27.21% of the company’s stock.
Airbnb Stock Performance
Airbnb (NASDAQ:ABNB – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s revenue was up 16.3% on a year-over-year basis. As a group, equities research analysts anticipate that Airbnb, Inc. will post 5.28 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have commented on ABNB shares. Evercore set a $200.00 price target on shares of Airbnb in a research note on Monday, August 24th. TD Cowen raised shares of Airbnb to a “strong-buy” rating in a report on Monday, September 14th. Piper Sandler set a $150.00 target price on shares of Airbnb in a research note on Friday, August 7th. B. Riley Financial reiterated a “buy” rating on shares of Airbnb in a report on Friday, August 7th. Finally, Benchmark boosted their price target on Airbnb from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Moderate Buy” and an average price target of $182.71.
Read Our Latest Research Report on ABNB
Airbnb Company Profile
Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.
The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.
Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.
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