11,303 Shares of Airbnb, Inc. $ABNB Bought by Western Financial Corp CA

Key Points

• Western Financial Corp CA acquired 11,303 Airbnb shares worth approximately $1.816 million in the third quarter, while several other institutions also initiated or increased positions. Institutional investors collectively own 80.76% of Airbnb.
• Airbnb reported quarterly revenue of $3.61 billion, up 16.3% year over year, and EPS of $1.37, exceeding analyst expectations of $1.26. The company posted a 20.45% net margin and 33.38% return on equity.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $181.93, compared with a recent share price of $167.06. However, insiders sold approximately $271.1 million of stock over the past 90 days.

Western Financial Corp CA acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,303 shares of the company's stock, valued at approximately $1,816,000.

Other hedge funds also recently made changes to their positions in the company. Seelaus Asset Management LLC grew its position in Airbnb by 45.3% in the third quarter. Seelaus Asset Management LLC now owns 2,696 shares of the company's stock valued at $433,000 after purchasing an additional 840 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in Airbnb during the 3rd quarter worth about $1,215,000. Signal Advisors Wealth LLC bought a new stake in Airbnb during the 3rd quarter worth about $383,000. B. Riley Wealth Advisors Inc. bought a new stake in Airbnb during the 3rd quarter worth about $350,000. Finally, Krilogy Financial LLC boosted its stake in shares of Airbnb by 3.9% during the 3rd quarter. Krilogy Financial LLC now owns 18,970 shares of the company's stock worth $3,102,000 after buying an additional 710 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Performance

Shares of Airbnb stock traded up $1.48 during trading on Wednesday, hitting $167.06. 3,776,313 shares of the stock were exchanged, compared to its average volume of 4,313,323. The stock has a market capitalization of $100.03 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24. The company has a fifty day moving average price of $172.22 and a 200-day moving average price of $150.49. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $193.45. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the business posted $1.03 EPS. Airbnb's revenue was up 16.3% on a year-over-year basis. As a group, equities analysts predict that Airbnb, Inc. will post 5.28 EPS for the current fiscal year.

Insider Activity at Airbnb

In other news, CAO David Bernstein sold 1,489 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $168.93, for a total value of $251,536.77. Following the completion of the sale, the chief accounting officer directly owned 47,024 shares of the company's stock, valued at $7,943,764.32. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $165.18, for a total value of $2,248,925.70. Following the transaction, the insider owned 20,567 shares of the company's stock, valued at $3,397,257.06. This represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,562,961 shares of company stock worth $271,146,941 in the last 90 days. Corporate insiders own 27.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ABNB shares. Argus raised their price objective on Airbnb from $165.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 21st. BMO Capital Markets lifted their target price on Airbnb from $146.00 to $165.00 and gave the company a "market perform" rating in a research report on Monday, August 10th. BNP Paribas Exane upped their target price on Airbnb from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Morgan Stanley began coverage on Airbnb in a report on Wednesday, September 16th. They set an "equal weight" rating and a $170.00 target price on the stock. Finally, Canaccord Genuity Group set a $200.00 price target on Airbnb in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Airbnb currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.93.

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel-related experiences with hosts offering homes, apartments, rooms and other lodging options. The company's platform supports booking and managing stays in a wide range of destinations, from major cities to rural and resort areas.

In addition to accommodations, Airbnb offers experiences hosted by local residents, including activities, tours and cultural events. The company has also expanded its platform to include services in select markets, such as offerings related to hospitality, wellness, food and other travel needs.

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