Brookstone Capital Management lifted its position in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,869 shares of the company’s stock after purchasing an additional 304 shares during the quarter. Brookstone Capital Management’s holdings in Airbnb were worth $374,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in ABNB. Norges Bank bought a new stake in shares of Airbnb in the fourth quarter worth about $332,438,000. Renaissance Technologies LLC grew its holdings in shares of Airbnb by 18.2% in the fourth quarter. Renaissance Technologies LLC now owns 8,602,746 shares of the company’s stock valued at $735,535,000 after purchasing an additional 1,323,719 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Airbnb in the first quarter valued at $151,147,000. First Republic Investment Management Inc. grew its holdings in shares of Airbnb by 76.9% in the fourth quarter. First Republic Investment Management Inc. now owns 2,518,714 shares of the company’s stock valued at $215,350,000 after purchasing an additional 1,094,694 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Airbnb in the first quarter valued at $173,967,000. 44.19% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently commented on the company. Argus lifted their price target on Airbnb from $124.00 to $168.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Melius assumed coverage on Airbnb in a research report on Monday, July 31st. They issued a “neutral” rating and a $160.00 price target for the company. Citigroup lifted their price objective on shares of Airbnb from $135.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. TD Cowen lowered their target price on shares of Airbnb from $158.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Finally, DA Davidson lifted their price target on shares of Airbnb from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.81.
Airbnb Trading Down 0.4 %
ABNB opened at $132.20 on Friday. The firm has a market cap of $85.57 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.81 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.39. Airbnb, Inc. has a 12 month low of $81.91 and a 12 month high of $154.95. The stock has a fifty day moving average price of $138.89 and a 200-day moving average price of $126.11.
Airbnb (NASDAQ:ABNB – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.77 by $0.21. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.42 billion. Airbnb had a return on equity of 42.90% and a net margin of 25.31%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. As a group, equities research analysts anticipate that Airbnb, Inc. will post 3.75 earnings per share for the current fiscal year.
Insider Transactions at Airbnb
In other news, CEO Brian Chesky sold 30,000 shares of Airbnb stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $132.47, for a total value of $3,974,100.00. Following the transaction, the chief executive officer now owns 17,333,931 shares of the company’s stock, valued at approximately $2,296,225,839.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Brian Chesky sold 30,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $132.47, for a total value of $3,974,100.00. Following the completion of the sale, the chief executive officer now owns 17,333,931 shares of the company’s stock, valued at approximately $2,296,225,839.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $130.85, for a total value of $5,234,000.00. Following the completion of the sale, the insider now directly owns 1,164,797 shares of the company’s stock, valued at approximately $152,413,687.45. The disclosure for this sale can be found here. Insiders have sold a total of 2,147,348 shares of company stock valued at $295,803,385 in the last 90 days. Insiders own 30.84% of the company’s stock.
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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.
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