Harel Insurance Investments & Financial Services Ltd. Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 72.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,455 shares of the company’s stock after buying an additional 6,061 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Airbnb were worth $1,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MJP Associates Inc. ADV boosted its holdings in Airbnb by 1.8% in the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after acquiring an additional 67 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Airbnb by 1.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock valued at $728,000 after acquiring an additional 78 shares in the last quarter. Ellevest Inc. raised its position in shares of Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in Airbnb by 4.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company’s stock worth $237,000 after purchasing an additional 83 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Airbnb by 7.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock valued at $176,000 after purchasing an additional 90 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Up 0.8%

NASDAQ ABNB opened at $136.50 on Friday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The stock has a market cap of $85.50 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.56 and a beta of 1.13. The company’s 50 day moving average is $131.74 and its two-hundred day moving average is $130.48.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

ABNB has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, April 17th. Cantor Fitzgerald restated an “underweight” rating and issued a $100.00 price objective on shares of Airbnb in a report on Wednesday, May 14th. Piper Sandler lowered their price objective on Airbnb from $145.00 to $132.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Barclays cut their target price on Airbnb from $120.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, May 2nd. Finally, Wells Fargo & Company lifted their target price on Airbnb from $100.00 to $104.00 and gave the stock an “underweight” rating in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $141.23.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total transaction of $826,750.00. Following the completion of the transaction, the chief financial officer directly owned 467,611 shares of the company’s stock, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $129.46, for a total value of $30,552,560.00. Following the transaction, the director directly owned 944,015 shares of the company’s stock, valued at approximately $122,212,181.90. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,607,528 shares of company stock valued at $201,688,571 in the last ninety days. Insiders own 27.91% of the company’s stock.

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.