Advisors Asset Management Inc. Raises Stake in Airbnb, Inc. $ABNB

Key Points

• Advisors Asset Management Inc. raised its stake in Airbnb by 20.8%, now holding 14,631 shares worth approximately $1.75 million, as reported in its latest SEC filing.
• Insider trading activity includes notable sales, with insider Nathan Blecharczyk and director Joseph Gebbia selling 2,246 and 236,000 shares, respectively, indicating changes in ownership.
• Wall Street analysts have mixed views on Airbnb, with an average rating of "Hold" and a price target averaging $142.66, reflecting varied confidence among investors.

Advisors Asset Management Inc. boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 20.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,631 shares of the company's stock after purchasing an additional 2,517 shares during the period. Advisors Asset Management Inc.'s holdings in Airbnb were worth $1,748,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Airbnb during the fourth quarter worth $26,000. Orion Capital Management LLC acquired a new position in shares of Airbnb during the 4th quarter worth $28,000. Stonebridge Financial Group LLC raised its stake in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after buying an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Finally, SouthState Corp grew its holdings in shares of Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after buying an additional 201 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Zacks Research upgraded Airbnb to a "hold" rating in a report on Tuesday, August 12th. Wedbush lowered their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Jefferies Financial Group lowered their price target on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, BNP Paribas upgraded Airbnb to a "hold" rating in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $142.66.

Airbnb Stock Down 1.2%

ABNB opened at $123.81 on Monday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a 50 day moving average of $131.64 and a two-hundred day moving average of $129.11. The company has a market cap of $76.94 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.26 and a beta of 1.13.

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

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider owned 182,514 shares in the company, valued at $22,850,752.80. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the completion of the transaction, the director owned 944,015 shares of the company's stock, valued at approximately $122,212,181.90. This represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,438,926 shares of company stock worth $188,880,433 in the last 90 days. 27.83% of the stock is owned by insiders.

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.

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