First Trust Advisors LP Grows Stock Holdings in Airbnb, Inc. $ABNB

First Trust Advisors LP lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,009,431 shares of the company’s stock after purchasing an additional 264,370 shares during the period. First Trust Advisors LP owned 0.32% of Airbnb worth $265,928,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kentucky Trust Co purchased a new stake in Airbnb in the 2nd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Airbnb by 70.9% during the second 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 during the period. Concord Wealth Partners bought a new position in shares of Airbnb during the second quarter valued at approximately $28,000. Whipplewood Advisors LLC lifted its stake in Airbnb by 235.3% in the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after acquiring an additional 160 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its holdings in Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. 80.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ABNB shares. Royal Bank Of Canada boosted their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Barclays increased their price target on shares of Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Truist Financial reduced their target price on Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $143.58.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $120.76, for a total value of $28,499,360.00. Following the transaction, the director owned 1,176,015 shares in the company, valued at $142,015,571.40. The trade was a 16.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 3,307 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $116.71, for a total transaction of $385,959.97. Following the sale, the insider directly owned 175,793 shares in the company, valued at $20,516,801.03. This trade represents a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,498,340 shares of company stock worth $181,532,210. 27.91% of the stock is owned by insiders.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $120.13 on Thursday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a 50-day moving average of $121.54 and a 200 day moving average of $127.61. The stock has a market cap of $73.95 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $2.13 earnings per share. Airbnb’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb Profile

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.