Convergence Investment Partners LLC Takes $485,000 Position in Airbnb, Inc. $ABNB

Convergence Investment Partners LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,997 shares of the company’s stock, valued at approximately $485,000.

Other large investors also recently added to or reduced their stakes in the company. DDD Partners LLC grew its holdings in shares of Airbnb by 3.9% during the second quarter. DDD Partners LLC now owns 2,041 shares of the company’s stock valued at $270,000 after buying an additional 76 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after acquiring an additional 83 shares during the period. SBI Securities Co. Ltd. grew its stake in Airbnb by 0.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,552 shares of the company’s stock valued at $1,396,000 after acquiring an additional 85 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Airbnb by 7.5% in the 3rd quarter. LRI Investments LLC now owns 1,260 shares of the company’s stock valued at $153,000 after purchasing an additional 88 shares during the period. Finally, Brookstone Capital Management lifted its position in shares of Airbnb by 4.0% in the third quarter. Brookstone Capital Management now owns 2,350 shares of the company’s stock worth $285,000 after purchasing an additional 91 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Trading Up 1.5%

Shares of NASDAQ:ABNB opened at $131.31 on Tuesday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a fifty day moving average price of $130.90 and a 200 day moving average price of $127.28. The stock has a market capitalization of $80.83 billion, a PE ratio of 31.19, a P/E/G ratio of 2.00 and a beta of 1.09.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.Airbnb’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 EPS. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on ABNB. B. Riley raised shares of Airbnb from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Monday, January 12th. UBS Group restated a “neutral” rating on shares of Airbnb in a report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating on shares of Airbnb in a report on Wednesday, January 14th. Barclays set a $120.00 target price on Airbnb and gave the company an “equal weight” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group upped their target price on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $147.84.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the transaction, the chief executive officer owned 45,854 shares in the company, valued at $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 is available at the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $135.94, for a total transaction of $509,775.00. Following the completion of the sale, the chief financial officer owned 414,280 shares of the company’s stock, valued at $56,317,223.20. The trade was a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,202,272 shares of company stock worth $148,094,596 over the last ninety days. Company insiders own 27.91% 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.