Airbnb, Inc. $ABNB Shares Bought by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel increased its Airbnb stake by 16.5% in the third quarter, purchasing 12,025 additional shares for a total of 85,116 shares valued at approximately $13.7 million. Institutional investors and hedge funds own 80.76% of ABNB.
• Airbnb insiders sold 1.56 million shares worth about $271.1 million over the past three months, including sales by insider Nathan Blecharczyk and Chief Accounting Officer David Bernstein.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $181.93. Airbnb recently beat quarterly earnings and revenue estimates, reporting $1.37 in EPS and $3.61 billion in revenue.

ZWJ Investment Counsel Inc. grew its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,116 shares of the company's stock after purchasing an additional 12,025 shares during the quarter. ZWJ Investment Counsel Inc.'s holdings in Airbnb were worth $13,674,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ABNB. Mather Group LLC. raised its position in shares of Airbnb by 11.2% in the 3rd quarter. Mather Group LLC. now owns 2,081 shares of the company's stock worth $334,000 after acquiring an additional 209 shares in the last quarter. Western Financial Corp CA acquired a new position in shares of Airbnb in the 3rd quarter valued at about $1,816,000. Seelaus Asset Management LLC lifted its stake in shares of Airbnb by 45.3% in the 3rd 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 during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Airbnb during the 3rd quarter valued at about $1,215,000. Finally, Signal Advisors Wealth LLC bought a new stake in shares of Airbnb during the 3rd quarter valued at about $383,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Airbnb news, insider Nathan Blecharczyk sold 13,615 shares of the firm's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $165.18, for a total transaction of $2,248,925.70. Following the transaction, the insider directly owned 20,567 shares in the company, valued at approximately $3,397,257.06. This trade represents a 39.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David Bernstein sold 1,489 shares of Airbnb stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $168.93, for a total transaction of $251,536.77. Following the transaction, the chief accounting officer directly owned 47,024 shares in the company, valued at $7,943,764.32. This represents a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,562,961 shares of company stock valued at $271,146,941 over the last three months. 27.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ABNB. B. Riley Financial reaffirmed a "buy" rating and set a $210.00 target price (up from $180.00) on shares of Airbnb in a research note on Friday, August 7th. DA Davidson boosted their price target on Airbnb from $175.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, August 31st. Gordon Haskett boosted their price target on Airbnb from $146.00 to $180.00 and gave the company a "hold" rating in a research note on Thursday, September 10th. Mizuho increased their price target on Airbnb from $175.00 to $200.00 in a report on Friday, August 7th. Finally, Wells Fargo & Company cut their price target on Airbnb from $186.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $181.93.

Airbnb Stock Up 0.9%

ABNB stock opened at $167.06 on Thursday. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average is $172.51 and its 200-day moving average is $150.75. The firm has a market capitalization of $100.03 billion, a PE ratio of 37.97, a P/E/G ratio of 1.90 and a beta of 1.24.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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 return on equity of 33.38% and a net margin of 20.45%. The company had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Airbnb's quarterly revenue was up 16.3% on a year-over-year basis. Sell-side analysts expect that Airbnb, Inc. will post 5.28 EPS for the current fiscal year.

Airbnb Company Profile

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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