HB Wealth Management LLC Grows Stake in Airbnb, Inc. $ABNB

HB Wealth Management LLC boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 58.6% during the 1st quarter, Holdings Channel reports. The firm owned 18,707 shares of the company’s stock after buying an additional 6,915 shares during the period. HB Wealth Management LLC’s holdings in Airbnb were worth $2,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. Harris Associates L P raised its position in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after buying an additional 4,292,383 shares during the last quarter. Independent Franchise Partners LLP purchased a new position in shares of Airbnb in the third quarter valued at $505,672,000. Norges Bank bought a new stake in Airbnb in the fourth quarter worth $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Airbnb by 453.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after purchasing an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC bought a new position in Airbnb during the fourth quarter valued at $342,017,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ABNB shares. Wedbush raised shares of Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Scotiabank started coverage on shares of Airbnb in a report on Monday, May 4th. They issued an “outperform” rating for the company. Tigress Financial dropped their price target on Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Citizens Jmp boosted their price objective on Airbnb from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Airbnb has an average rating of “Moderate Buy” and a consensus target price of $158.36.

Airbnb Trading Down 0.9%

ABNB stock opened at $147.65 on Tuesday. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $150.19. The stock has a market capitalization of $88.99 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $137.99 and its two-hundred day simple moving average is $133.70.

Airbnb (NASDAQ:ABNB) last released 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). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the business posted $0.24 EPS. Airbnb’s revenue was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Insider Activity

In other Airbnb news, Director Kenneth I. Chenault sold 8,346 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the sale, the director owned 40,879 shares of the company’s stock, valued at $6,131,850. This trade represents a 16.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $148.43, for a total value of $43,772,452.29. Following the transaction, the director owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. This trade represents a 10.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,281,621 shares of company stock valued at $315,312,325. Company insiders own 27.21% of the company’s stock.

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.