NorthRock Partners LLC Purchases 1,263 Shares of Airbnb, Inc. $ABNB

NorthRock Partners LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,230 shares of the company’s stock after buying an additional 1,263 shares during the period. NorthRock Partners LLC’s holdings in Airbnb were worth $3,604,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sit Investment Associates Inc. boosted its holdings in shares of Airbnb by 42.8% during the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock worth $2,015,000 after buying an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Airbnb by 74.8% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock worth $2,451,000 after buying an additional 8,780 shares during the period. Plato Investment Management Ltd boosted its holdings in shares of Airbnb by 53.1% during the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock worth $2,291,000 after buying an additional 6,579 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Airbnb by 52.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock worth $293,590,000 after buying an additional 850,719 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Airbnb by 10.0% in the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock valued at $636,000 after purchasing an additional 484 shares during the period. 80.76% of the stock is owned by institutional investors.

Airbnb Trading Down 1.6%

ABNB opened at $118.19 on Monday. The stock has a market capitalization of $73.45 billion, a PE ratio of 28.62, a PEG ratio of 2.16 and a beta of 1.10. 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 price of $124.34 and a two-hundred day moving average price of $127.28.

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

Insider Buying and Selling at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing 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, September 29th. The stock was sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the transaction, the director directly owned 940,015 shares in the company, valued at $116,157,653.55. The trade was a 20.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,430,876 shares of company stock worth $182,694,292 in the last 90 days. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. UBS Group reduced their price target on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Barclays set a $105.00 price target on shares of Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Jefferies Financial Group reduced their price target on shares of Airbnb from $165.00 to $160.00 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, Truist Financial reduced their price target on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $141.81.

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.