Sequoia Financial Advisors LLC Increases Stake in Airbnb, Inc. $ABNB

Sequoia Financial Advisors LLC boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,713 shares of the company’s stock after acquiring an additional 2,344 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Airbnb were worth $1,550,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kentucky Trust Co purchased a new position in Airbnb during the second quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after acquiring an additional 83 shares in the last quarter. Stonebridge Financial Group LLC raised its position in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after acquiring an additional 106 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in Airbnb by 363.6% during the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its position in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Phillip Securities upgraded Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Tuesday, October 7th. Wedbush cut their price objective on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price objective on Airbnb and gave the company an “underweight” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $141.81.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $122.89 on Friday. The business’s 50 day moving average price is $123.89 and its 200-day moving average price is $127.24. The firm has a market capitalization of $76.37 billion, a PE ratio of 29.76, a P/E/G ratio of 2.27 and a beta of 1.10. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year 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 analysts’ consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares of the company’s stock, valued at approximately $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 2,246 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,666,876 shares of company stock worth $210,819,940. 27.91% of the stock is currently owned by corporate insiders.

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.