Airbnb, Inc. $ABNB Shares Acquired by Farmers Trust Co.

Farmers Trust Co. lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 894.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,573 shares of the company’s stock after purchasing an additional 18,505 shares during the period. Farmers Trust Co.’s holdings in Airbnb were worth $2,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Airbnb by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company’s stock valued at $387,186,000 after purchasing an additional 31,120 shares in the last quarter. Plato Investment Management Ltd lifted its position in Airbnb by 53.1% in the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock worth $2,291,000 after buying an additional 6,579 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Airbnb by 52.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock valued at $293,590,000 after buying an additional 850,719 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Airbnb by 5.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 159,676 shares of the company’s stock valued at $21,132,000 after acquiring an additional 8,605 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in shares of Airbnb during the 2nd quarter valued at $170,189,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $123.57, for a total value of $29,162,520.00. Following the completion of the transaction, the director owned 940,015 shares of the company’s stock, valued at $116,157,653.55. This represents a 20.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the sale, the insider owned 11,520 shares of the company’s stock, valued at $1,404,979.20. This represents a 92.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,611,828 shares of company stock worth $195,591,707 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the subject of several research reports. KeyCorp began coverage on Airbnb in a report on Thursday, October 23rd. They set a “sector weight” rating for the company. Truist Financial increased their price target on Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Wedbush reissued a “neutral” rating and set a $130.00 target price on shares of Airbnb in a research report on Friday, November 7th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $165.00 price target on shares of Airbnb in a report on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $143.88.

Airbnb Price Performance

NASDAQ:ABNB opened at $128.39 on Monday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company has a fifty day moving average price of $121.99 and a 200 day moving average price of $127.39. The stock has a market cap of $79.03 billion, a P/E ratio of 30.50, a PEG ratio of 2.26 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.10). The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current 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.