Raymond James Trust N.A. raised its stake in Airbnb, Inc. (NASDAQ:ABNB – Get Rating) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,188 shares of the company's stock after buying an additional 633 shares during the period. Raymond James Trust N.A.'s holdings in Airbnb were worth $284,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC increased its holdings in shares of Airbnb by 6.9% in the 1st quarter. Jennison Associates LLC now owns 15,345,417 shares of the company's stock worth $2,635,729,000 after buying an additional 996,378 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Airbnb by 23.4% during the 1st quarter. Capital Research Global Investors now owns 13,837,492 shares of the company's stock valued at $2,376,753,000 after purchasing an additional 2,627,359 shares during the last quarter. Polen Capital Management LLC grew its holdings in shares of Airbnb by 30.5% during the 1st quarter. Polen Capital Management LLC now owns 12,953,525 shares of the company's stock valued at $2,224,897,000 after purchasing an additional 3,029,742 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Airbnb by 17.7% during the 4th quarter. BlackRock Inc. now owns 8,587,605 shares of the company's stock valued at $1,429,753,000 after purchasing an additional 1,292,367 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Airbnb by 55.8% during the 4th quarter. State Street Corp now owns 3,183,778 shares of the company's stock valued at $530,067,000 after purchasing an additional 1,139,981 shares during the last quarter. Institutional investors own 39.45% of the company's stock.
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Insider Activity at Airbnb
In related news, CFO Dave Stephenson sold 15,969 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $125.00, for a total value of $1,996,125.00. Following the completion of the transaction, the chief financial officer now directly owns 174,148 shares of the company's stock, valued at approximately $21,768,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Dave Stephenson sold 15,969 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $125.00, for a total value of $1,996,125.00. Following the completion of the transaction, the chief financial officer now directly owns 174,148 shares of the company's stock, valued at approximately $21,768,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 2,500 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $89.09, for a total transaction of $222,725.00. Following the completion of the transaction, the chief technology officer now owns 263,703 shares in the company, valued at approximately $23,493,300.27. The disclosure for this sale can be found here. Insiders sold 833,644 shares of company stock valued at $95,196,464 in the last three months. 32.69% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $160.00 target price on shares of Airbnb in a report on Tuesday, July 12th. Evercore ISI cut their price target on shares of Airbnb from $205.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Airbnb from $120.00 to $110.00 and set a "hold" rating on the stock in a report on Wednesday, August 3rd. Canaccord Genuity Group cut their price target on shares of Airbnb from $200.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, August 4th. Finally, KeyCorp cut their price target on shares of Airbnb from $195.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $157.56.
Airbnb Stock Performance
ABNB stock opened at $106.37 on Wednesday. The firm has a market cap of $69.00 billion, a price-to-earnings ratio of 58.13 and a beta of 1.14. The firm has a 50-day simple moving average of $114.73 and a two-hundred day simple moving average of $125.06. Airbnb, Inc. has a one year low of $86.71 and a one year high of $212.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.58.
Airbnb (NASDAQ:ABNB – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. Airbnb had a net margin of 16.91% and a return on equity of 26.03%. During the same period last year, the company posted ($0.11) earnings per share. On average, equities analysts forecast that Airbnb, Inc. will post 2.25 EPS for the current fiscal year.
Airbnb Profile
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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.
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