Welch & Forbes LLC Increases Stock Holdings in Airbnb, Inc. $ABNB

Welch & Forbes LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 34.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,715 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Welch & Forbes LLC’s holdings in Airbnb were worth $624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Trust Co purchased a new stake in shares of Airbnb in the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Airbnb in the second quarter worth about $28,000. Whipplewood Advisors LLC lifted its holdings in shares of Airbnb by 235.3% in the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after buying an additional 160 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its holdings in shares of Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

ABNB stock opened at $126.54 on Monday. The company has a market capitalization of $78.64 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company’s 50 day moving average price is $124.55 and its two-hundred day moving average price is $128.57.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. The firm 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 business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 2,246 shares of the firm’s 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 trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the completion of the transaction, the director owned 704,015 shares in the company, valued at $83,932,668.30. This represents a 25.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,446,160 shares of company stock valued at $179,651,147. 27.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABNB shares. JPMorgan Chase & Co. increased their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Citizens Jmp raised shares of Airbnb to a “hold” rating in a research note on Monday, August 11th. 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. Truist Financial decreased their price target on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a report on Wednesday, September 3rd. 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 report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.70.

Airbnb 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.