PGIM Custom Harvest LLC Makes New Investment in Airbnb, Inc. $ABNB

PGIM Custom Harvest LLC purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,750 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors have also made changes to their positions in ABNB. Dimensional Fund Advisors LP increased its stake in shares of Airbnb by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 812,476 shares of the company’s stock worth $106,769,000 after purchasing an additional 17,620 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company’s stock worth $176,000 after purchasing an additional 90 shares during the period. Dark Forest Capital Management LP increased its stake in shares of Airbnb by 61.6% in the fourth quarter. Dark Forest Capital Management LP now owns 7,585 shares of the company’s stock worth $997,000 after purchasing an additional 2,890 shares during the period. Pinebridge Investments L.P. increased its stake in shares of Airbnb by 87.3% in the fourth quarter. Pinebridge Investments L.P. now owns 100,068 shares of the company’s stock worth $13,150,000 after purchasing an additional 46,649 shares during the period. Finally, MGO One Seven LLC increased its stake in shares of Airbnb by 80.1% in the fourth quarter. MGO One Seven LLC now owns 6,394 shares of the company’s stock worth $840,000 after purchasing an additional 2,844 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Up 1.2%

NASDAQ ABNB opened at $126.43 on Friday. The stock’s 50 day moving average is $132.73 and its two-hundred day moving average is $130.56. The company has a market capitalization of $78.57 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.28 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on ABNB shares. BTIG Research restated a “neutral” rating on shares of Airbnb in a research note on Wednesday, May 28th. Benchmark lowered their price target on Airbnb from $178.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and lowered their price target for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. UBS Group lowered their price target on Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Finally, Evercore ISI lowered their price target on Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.72.

Insider Activity at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares of the company’s stock, valued at approximately $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $125.36, for a total value of $29,584,960.00. Following the sale, the director directly owned 15 shares in the company, valued at $1,880.40. The trade was a 99.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,692,739 shares of company stock valued at $224,363,640. Corporate insiders own 27.91% of the company’s stock.

Airbnb Company 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.