D.A. Davidson & CO. Increases Stock Holdings in Airbnb, Inc. $ABNB

D.A. Davidson & CO. boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 84.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,526 shares of the company’s stock after purchasing an additional 28,595 shares during the period. D.A. Davidson & CO.’s holdings in Airbnb were worth $8,275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kentucky Trust Co purchased a new position in shares of Airbnb during the 2nd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Airbnb during the 2nd quarter valued at about $28,000. Stonebridge Financial Group LLC lifted its position in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after buying an additional 106 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after buying an additional 174 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Down 0.1%

NASDAQ ABNB opened at $127.35 on Friday. The stock’s 50 day moving average is $124.42 and its 200 day moving average is $127.69. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The stock has a market cap of $79.14 billion, a PE ratio of 30.84, a P/E/G ratio of 2.32 and a beta of 1.10.

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

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $119.22, for a total value of $28,135,920.00. Following the sale, the director owned 704,015 shares of the company’s stock, valued at $83,932,668.30. The trade was a 25.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $124.26, for a total value of $74,556.00. Following the completion of the sale, the chief technology officer directly owned 197,206 shares in the company, valued at approximately $24,504,817.56. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,425,876 shares of company stock valued at $177,336,982 in the last quarter. 27.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Phillip Securities raised Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. BNP Paribas raised Airbnb to a “hold” rating in a research report on Wednesday, July 16th. Jefferies Financial Group lowered their price objective on Airbnb from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. KeyCorp began coverage on Airbnb in a report on Thursday. They issued a “sector weight” rating on the stock. Finally, Wells Fargo & Company set a $110.00 price target on Airbnb and gave the stock an “underweight” rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $141.81.

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.