Airbnb, Inc. $ABNB Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 228,376 shares of the company’s stock after acquiring an additional 1,352 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Airbnb were worth $30,223,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sit Investment Associates Inc. increased its holdings in shares of Airbnb by 42.8% in the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock valued at $2,015,000 after purchasing an additional 5,060 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of Airbnb by 74.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after purchasing an additional 8,780 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Airbnb by 53.1% in the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock valued at $2,291,000 after purchasing an additional 6,579 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Airbnb by 52.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock valued at $293,590,000 after purchasing an additional 850,719 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in shares of Airbnb in the 2nd quarter valued at about $170,189,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the sale, the director directly owned 704,015 shares in the company, valued at $83,932,668.30. This represents a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,666,876 shares of company stock valued at $210,819,940 over the last quarter. 27.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Airbnb in a report on Monday, September 29th. They issued an “outperform” rating and a $151.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Wedbush cut their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $110.00 target price on shares of Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $141.81.

Airbnb Trading Up 2.5%

NASDAQ:ABNB opened at $125.91 on Friday. The firm has a 50-day moving average price of $123.99 and a two-hundred day moving average price of $127.27. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market capitalization of $78.25 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

About Airbnb

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.