Airbnb, Inc. $ABNB Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 201,900 shares of the company’s stock after purchasing an additional 3,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Airbnb were worth $26,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ABNB. Kentucky Trust Co acquired a new position in shares of Airbnb in the second quarter valued at approximately $25,000. Stonebridge Financial Group LLC grew its holdings in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares in the last quarter. Armstrong Advisory Group Inc. grew 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 valued at $34,000 after purchasing an additional 200 shares in the last quarter. Finally, SouthState Corp grew its holdings in shares of Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company’s stock valued at $35,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the sale, the director owned 472,015 shares of the company’s stock, valued at approximately $65,529,842.45. This trade represents a 33.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,431,476 shares of company stock worth $182,776,618. 27.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABNB. BMO Capital Markets set a $124.00 price objective on shares of Airbnb and gave the company a “market perform” rating in a report on Thursday, August 7th. Truist Financial lowered their price target on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a report on Wednesday, September 3rd. Mizuho started coverage on shares of Airbnb in a report on Monday, September 29th. They set an “outperform” rating and a $151.00 price target for the company. Barclays set a $105.00 price target on shares of Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $141.81.

Airbnb Trading Down 0.4%

Shares of Airbnb stock opened at $119.85 on Wednesday. The company has a fifty day simple moving average of $125.08 and a 200-day simple moving average of $127.47. 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 $74.48 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.20 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last issued 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 net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts forecast 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.