Adams Diversified Equity Fund Inc. Takes Position in Airbnb, Inc. $ABNB

Adams Diversified Equity Fund Inc. acquired a new position in Airbnb, Inc. (NASDAQ:ABNBFree Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 155,000 shares of the company’s stock, valued at approximately $19,573,000.

Several other large investors have also recently modified their holdings of ABNB. Harris Associates L P boosted its holdings in Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after acquiring an additional 4,292,383 shares during the period. Independent Franchise Partners LLP bought a new position in Airbnb during the 3rd quarter worth approximately $505,672,000. Norges Bank purchased a new position in Airbnb in the 4th quarter worth approximately $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Airbnb by 453.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after purchasing an additional 2,724,682 shares during the period. Finally, SRS Investment Management LLC bought a new stake in Airbnb in the fourth quarter valued at approximately $342,017,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 2,113 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $145.09, for a total value of $306,575.17. Following the completion of the transaction, the insider directly owned 12,370 shares in the company, valued at approximately $1,794,763.30. This represents a 14.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 30,743 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $138.40, for a total transaction of $4,254,831.20. Following the completion of the sale, the chief executive officer directly owned 10,701,685 shares of the company’s stock, valued at approximately $1,481,113,204. This represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,005,339 shares of company stock worth $273,061,091. 27.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABNB. Cantor Fitzgerald raised Airbnb from a “neutral” rating to an “overweight” rating in a research note on Monday, May 4th. CICC Research assumed coverage on shares of Airbnb in a research note on Friday, June 5th. They issued an “outperform” rating and a $165.00 target price on the stock. Wedbush upgraded shares of Airbnb from a “neutral” rating to a “neutral” rating in a report on Monday, May 4th. Mizuho increased their price target on shares of Airbnb from $156.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $173.00 price target on shares of Airbnb in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.96.

View Our Latest Report on Airbnb

Airbnb News Summary

Here are the key news stories impacting Airbnb this week:

Airbnb Trading Up 2.6%

NASDAQ ABNB opened at $145.56 on Friday. The stock has a market cap of $87.73 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $147.58. The stock has a 50 day simple moving average of $137.36 and a two-hundred day simple moving average of $132.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNBGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. Airbnb’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Airbnb Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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