Airbnb, Inc. $ABNB Shares Bought by Birch Hill Investment Advisors LLC

Key Points

• Birch Hill Investment Advisors LLC increased its stake in Airbnb by 30.4% during the second quarter, owning a total of 13,459 shares valued at approximately $1.78 million.
• Airbnb's stock has seen a 12-month high of $163.93 and a low of $99.88, with a current opening price of $128.56.
• The company's recent earnings report revealed an EPS of $1.03, exceeding consensus estimates, with a 12.7% year-over-year revenue growth.

Birch Hill Investment Advisors LLC boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 30.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,459 shares of the company's stock after acquiring an additional 3,141 shares during the quarter. Birch Hill Investment Advisors LLC's holdings in Airbnb were worth $1,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kentucky Trust Co acquired a new stake in Airbnb during the second quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Airbnb by 70.9% during the second 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 during the last quarter. Concord Wealth Partners acquired a new stake in Airbnb during the second quarter worth $28,000. Stonebridge Financial Group LLC increased its stake in 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 acquiring an additional 106 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its stake in 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 acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABNB. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Truist Financial dropped their price objective on Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday, September 3rd. Mizuho started coverage on Airbnb in a research note on Monday, September 29th. They issued an "outperform" rating and a $151.00 price objective for the company. Finally, Wedbush dropped their price objective on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Three research 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $141.81.

Airbnb Price Performance

ABNB opened at $128.56 on Wednesday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The stock has a market capitalization of $79.89 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.32 and a beta of 1.10. The business has a fifty day moving average price of $124.31 and a 200 day moving average price of $127.54.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping 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 firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the previous year, the firm posted $0.86 EPS. Airbnb's revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $122.91, for a total transaction of $73,746.00. Following the completion of the transaction, the chief technology officer directly owned 199,006 shares of the company's stock, valued at $24,459,827.46. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction 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 transaction, the director directly owned 1,176,015 shares of the company's stock, valued at $142,015,571.40. The trade was a 16.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,431,476 shares of company stock worth $178,130,616 over the last three months. Company insiders own 27.83% of the company's stock.

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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