Airbnb, Inc. $ABNB Position Boosted by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,503,666 shares of the company’s stock after purchasing an additional 75,516 shares during the quarter. Pacer Advisors Inc. owned 0.40% of Airbnb worth $303,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABNB. Kentucky Trust Co bought a new stake in shares of Airbnb during the 2nd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Airbnb by 70.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after purchasing an additional 83 shares during the period. Concord Wealth Partners purchased a new position in Airbnb in the 2nd quarter worth about $28,000. Whipplewood Advisors LLC lifted its stake in Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after buying an additional 160 shares in the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the sale, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $120.66, for a total value of $28,475,760.00. Following the completion of the transaction, the director owned 232,015 shares in the company, valued at $27,994,929.90. The trade was a 50.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,754,606 shares of company stock worth $214,342,160. 27.91% of the stock is owned by insiders.

Airbnb Stock Performance

Shares of ABNB stock opened at $136.61 on Friday. The stock’s 50 day simple moving average is $124.51 and its 200 day simple moving average is $127.59. 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 $84.09 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.41 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (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 company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company earned $2.13 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABNB. BTIG Research restated a “neutral” rating on shares of Airbnb in a research report on Friday, November 7th. Mizuho set a $156.00 price target on Airbnb in a report on Friday, November 7th. KeyCorp started coverage on Airbnb in a research report on Thursday, October 23rd. They set a “sector weight” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price target on shares of Airbnb from $111.00 to $118.00 and gave the stock an “underweight” rating in a report on Monday, December 1st. Three 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $144.48.

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.