West Family Investments Inc. Makes New Investment in Airbnb, Inc. $ABNB

West Family Investments Inc. purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,148 shares of the company’s stock, valued at approximately $880,000.

Several other large investors have also recently added to or reduced their stakes in ABNB. North Dakota State Investment Board bought a new stake in shares of Airbnb during the fourth quarter worth $2,785,000. North Star Asset Management Inc. raised its stake in shares of Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after acquiring an additional 9,294 shares during the last quarter. Carmignac Gestion increased its holdings in shares of Airbnb by 40.8% in the first quarter. Carmignac Gestion now owns 659,570 shares of the company’s stock valued at $83,290,000 after purchasing an additional 191,200 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Airbnb by 21.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 42,696 shares of the company’s stock valued at $5,392,000 after acquiring an additional 7,613 shares during the period. Finally, Markel Group Inc. grew its position in shares of Airbnb by 5.8% during the 4th quarter. Markel Group Inc. now owns 240,289 shares of the company’s stock worth $32,612,000 after buying an additional 13,156 shares during the period. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ABNB. Raymond James Financial upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Tuesday. Weiss Ratings upgraded Airbnb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. B. Riley Financial reissued a “buy” rating on shares of Airbnb in a research report on Friday, August 7th. Evercore set a $200.00 price objective on Airbnb in a report on Monday, August 24th. Finally, Benchmark increased their price target on Airbnb from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.10.

Airbnb Stock Performance

Shares of Airbnb stock traded down $7.40 on Tuesday, hitting $174.54. The stock had a trading volume of 7,042,407 shares, compared to its average volume of 4,295,478. The stock has a market cap of $104.51 billion, a price-to-earnings ratio of 39.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45. The business’s 50 day moving average is $163.73 and its two-hundred day moving average is $144.53.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. Analysts forecast that Airbnb, Inc. will post 5.23 EPS for the current year.

Insider Activity

In other news, Director Joseph Gebbia Jr. sold 294,903 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the transaction, the director directly owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 200,000 shares of Airbnb stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.79, for a total value of $34,958,000.00. Following the sale, the chief executive officer directly owned 10,501,685 shares in the company, valued at $1,835,589,521.15. The trade was a 1.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,288,689 shares of company stock worth $374,988,733. 27.21% of the stock is currently owned by corporate insiders.

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.