Airbnb, Inc. $ABNB Stock: Diversify Advisory Services LLC Increases Stake

Diversify Advisory Services LLC lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,815 shares of the company's stock after purchasing an additional 7,329 shares during the quarter. Diversify Advisory Services LLC's holdings in Airbnb were worth $12,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new position in Airbnb in the third quarter worth $35,000. Main Street Group LTD bought a new position in Airbnb in the first quarter worth $29,000. Western Wealth Management LLC acquired a new stake in Airbnb during the first quarter worth $34,000. Finally, Global Assets Advisory LLC acquired a new stake in Airbnb during the first quarter worth $38,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb News Roundup

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Recent momentum is attracting investor attention. Airbnb has gained about 10% over the past two weeks and 17% over the past month. Its asset-light business model, large cash position and potential benefit from higher interest income are being viewed as advantages in the current rate environment. Airbnb recent stock momentum
• Positive Sentiment: Analyst sentiment and business performance remain supportive. Airbnb recently exceeded quarterly earnings and revenue expectations, with revenue up 16.3% year over year. The company has an average analyst rating of “Moderate Buy,” while its consensus price target of $181.93 remains above recent trading levels. Airbnb analyst ratings and financial results
• Neutral Sentiment: Short-term rental demand appears healthy in some U.S. markets. A specialized brokerage said it has facilitated more than $500 million in Airbnb and short-term-rental property sales in Florida’s Destin, 30A and Panama City Beach markets. The activity suggests continued investor interest in Airbnb-related properties, though the transactions generate revenue for property sellers and brokers rather than directly for Airbnb. Short-term rental property sales in Florida
• Negative Sentiment: ETF selling and an executive stock sale could weigh modestly on sentiment. ETFs were net sellers of Airbnb shares on Friday. Separately, Chief Accounting Officer David Bernstein sold 1,369 shares for approximately $230,006, reducing his holdings by 2.91%; because he retained more than 45,000 shares, the transaction is unlikely to materially change the investment outlook. ETF selling of Airbnb shares Airbnb chief accounting officer stock sale

Insider Activity

In other news, CAO David C. Bernstein sold 1,369 shares of Airbnb stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $168.01, for a total value of $230,005.69. Following the completion of the transaction, the chief accounting officer owned 45,655 shares in the company, valued at approximately $7,670,496.55. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $165.18, for a total transaction of $2,248,925.70. Following the completion of the transaction, the insider owned 20,567 shares of the company's stock, valued at $3,397,257.06. This trade represents a 39.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,550,715 shares of company stock worth $269,396,918 over the last ninety days. Insiders own 27.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABNB. Robert W. Baird boosted their price target on shares of Airbnb from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, September 8th. Jefferies Financial Group increased their price objective on shares of Airbnb from $175.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Royal Bank Of Canada began coverage on shares of Airbnb in a report on Friday, October 2nd. They set an "outperform" rating for the company. Morgan Stanley started coverage on shares of Airbnb in a research report on Wednesday, September 16th. They set an "equal weight" rating and a $170.00 target price on the stock. Finally, Gordon Haskett lifted their target price on shares of Airbnb from $146.00 to $180.00 and gave the company a "hold" rating in a research report on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Airbnb currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.93.

Airbnb Stock Up 0.8%

Shares of NASDAQ:ABNB opened at $176.94 on Wednesday. The company's fifty day moving average is $172.53 and its 200-day moving average is $152.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $193.45. The company has a market capitalization of $105.95 billion, a PE ratio of 40.21, a P/E/G ratio of 2.01 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, topping analysts' consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter last year, the company posted $1.03 EPS. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. Equities research analysts predict that Airbnb, Inc. will post 5.28 earnings per share for the current fiscal year.

Airbnb Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.

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