Econ Financial Services Corp Takes $2.33 Million Position in Airbnb, Inc. $ABNB

Econ Financial Services Corp purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 19,172 shares of the company’s stock, valued at approximately $2,328,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kentucky Trust Co purchased a new position in Airbnb during the 2nd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted 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 valued at $26,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Airbnb during the second quarter worth about $28,000. Whipplewood Advisors LLC raised its holdings in Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after purchasing an additional 160 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in 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 during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABNB has been the topic of a number of analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. DA Davidson restated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday, December 5th. UBS Group upped their price objective on Airbnb from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Wedbush increased their price objective on Airbnb from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Finally, Truist Financial raised their target price on Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a report on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $144.48.

Airbnb Price Performance

NASDAQ ABNB opened at $135.72 on Friday. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a market capitalization of $83.54 billion, a P/E ratio of 32.24, a PEG ratio of 2.39 and a beta of 1.09. The business has a 50 day moving average price of $125.42 and a 200 day moving average price of $127.53.

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

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 2,565 shares of Airbnb stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $134.79, for a total transaction of $345,736.35. Following the completion of the transaction, the chief technology officer owned 165,086 shares in the company, valued at approximately $22,251,941.94. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $136.70, for a total transaction of $7,928,600.00. Following the completion of the sale, the director owned 576,015 shares in the company, valued at $78,741,250.50. This represents a 9.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,576,606 shares of company stock worth $193,108,240. 27.91% of the stock is owned by company insiders.

Airbnb Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.