Airbnb, Inc. $ABNB Shares Acquired by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR increased its holdings in Airbnb, Inc. by 9.3% in Q2, owning 50,931 shares valued at approximately $6.74 million.
• Airbnb's Director Joseph Gebbia sold 236,000 shares for over $28 million, resulting in a 25.1% decrease in his ownership stake.
• The company's recent earnings beat analyst expectations, reporting $1.03 earnings per share and $3.10 billion in revenue, reflecting a 12.7% increase year-over-year.

Generali Asset Management SPA SGR lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,931 shares of the company's stock after acquiring an additional 4,333 shares during the quarter. Generali Asset Management SPA SGR's holdings in Airbnb were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kentucky Trust Co acquired a new position in shares of Airbnb during the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock worth $26,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Airbnb during the second quarter worth $28,000. Stonebridge Financial Group LLC lifted its position in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in shares of Airbnb by 363.6% during the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the sale, the director owned 704,015 shares in the company, valued at $83,932,668.30. This represents a 25.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. This trade represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,666,876 shares of company stock worth $210,819,940 in the last ninety days. Insiders own 27.91% of the company's stock.

Airbnb Trading Up 1.1%

ABNB stock opened at $124.26 on Thursday. The firm has a market cap of $77.22 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.24 and a beta of 1.10. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock's 50 day simple moving average is $123.83 and its 200 day simple moving average is $127.21.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion for 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 firm's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. On average, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Airbnb in a report on Wednesday, October 8th. Zacks Research upgraded Airbnb to a "hold" rating in a research note on Tuesday, August 12th. UBS Group cut their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. BNP Paribas raised Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Finally, Truist Financial cut their target price on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.

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