5,111 Shares in Airbnb, Inc. $ABNB Acquired by Crux Wealth Advisors

Key Points

• Crux Wealth Advisors has acquired 5,111 shares of Airbnb, Inc. (NASDAQ: ABNB) valued at approximately $676,000, marking a new position in the company.
• Institutional investors now own 80.76% of Airbnb's stock, with significant acquisitions from firms like Harris Associates and Pacer Advisors increasing their stakes dramatically in recent quarters.
• Analysts have varied opinions on Airbnb's stock, with target prices ranging from $105.00 to $165.00, leading to a consensus rating of "Hold" and a target price of $141.81.

Crux Wealth Advisors bought a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,111 shares of the company's stock, valued at approximately $676,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harris Associates L P lifted its position in shares of Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after acquiring an additional 4,598,125 shares during the period. Pacer Advisors Inc. grew its holdings in Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after purchasing an additional 2,685,026 shares during the period. AQR Capital Management LLC increased its stake in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the period. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in shares of Airbnb during the second quarter valued at about $170,189,000. 80.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ABNB shares. Morgan Stanley reduced their target price on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Barclays set a $105.00 price objective on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a "hold" rating in a report on Monday, August 11th. Jefferies Financial Group cut their target price on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Wedbush decreased their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Three equities 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $141.81.

Insider Activity

In other Airbnb 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $120.76, for a total value of $28,499,360.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 1,666,876 shares of company stock valued at $210,819,940 in the last three months. 27.91% of the stock is owned by company insiders.

Airbnb Trading Up 2.5%

Shares of Airbnb stock opened at $125.91 on Friday. The company has a market capitalization of $78.25 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. The stock has a fifty day simple moving average of $123.99 and a 200 day simple moving average of $127.30. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued 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. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same period last year, the business earned $0.86 EPS. The business's revenue was up 12.7% on a year-over-year basis. On average, analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

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.

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