TD Asset Management Inc Buys 3,889 Shares of Airbnb, Inc. $ABNB

TD Asset Management Inc grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219,265 shares of the company’s stock after acquiring an additional 3,889 shares during the period. TD Asset Management Inc’s holdings in Airbnb were worth $29,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB raised its stake in shares of Airbnb by 6.7% during the second quarter. Wilmington Savings Fund Society FSB now owns 5,321 shares of the company’s stock valued at $704,000 after acquiring an additional 334 shares in the last quarter. RFG Advisory LLC raised its position in Airbnb by 5.3% during the 2nd quarter. RFG Advisory LLC now owns 9,522 shares of the company’s stock valued at $1,260,000 after purchasing an additional 479 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Airbnb by 12.1% during the 2nd quarter. Axxcess Wealth Management LLC now owns 24,054 shares of the company’s stock valued at $3,183,000 after purchasing an additional 2,603 shares in the last quarter. NorthRock Partners LLC raised its position in Airbnb by 4.9% during the 2nd quarter. NorthRock Partners LLC now owns 27,230 shares of the company’s stock valued at $3,604,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Airbnb by 1.3% in the second quarter. Verdence Capital Advisors LLC now owns 8,460 shares of the company’s stock valued at $1,120,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a report on Monday, August 11th. Wedbush reduced their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Zacks Research upgraded shares of Airbnb to a “hold” rating in a report on Tuesday, August 12th. BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Finally, UBS Group reduced their price objective on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $141.81.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider owned 182,514 shares in the company, valued at approximately $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 can be accessed through this link. Also, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,666,876 shares of company stock valued at $210,819,940 in the last quarter. Insiders own 27.91% of the company’s stock.

Airbnb Stock Down 1.1%

NASDAQ ABNB opened at $122.89 on Friday. The firm has a market cap of $76.37 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. The company has a 50 day moving average price of $123.89 and a 200 day moving average price of $127.24. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.