Airbnb, Inc. (NASDAQ:ABNB) Shares Bought by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd increased its holdings in Airbnb shares by 9.8%, acquiring an additional 2,500 shares, bringing their total to 28,133 shares valued at approximately $3.36 million.
• Airbnb's CEO Brian Chesky sold 8,000 shares worth over $1 million, while the CFO also sold 6,250 shares, indicating notable insider selling activity.
• The stock has seen various analyst ratings, with a consensus of "Hold" and an average price target of $142.10, reflecting mixed sentiment among investors.

Harvest Fund Management Co. Ltd boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,133 shares of the company's stock after purchasing an additional 2,500 shares during the period. Harvest Fund Management Co. Ltd's holdings in Airbnb were worth $3,359,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in Airbnb during the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC lifted its stake in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the period. Finally, BankPlus Trust Department acquired a new stake in Airbnb during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity

In related news, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares of the company's stock, valued at approximately $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the sale, the chief technology officer directly owned 209,777 shares of the company's stock, valued at $29,240,816.03. This represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,655,558 shares of company stock worth $219,678,073. Company insiders own 27.91% of the company's stock.

Airbnb Stock Down 1.5%

Shares of Airbnb stock traded down $2.09 during trading hours on Wednesday, reaching $134.75. 3,499,965 shares of the company's stock were exchanged, compared to its average volume of 3,149,845. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The business has a fifty day moving average of $135.01 and a two-hundred day moving average of $131.19. The company has a market capitalization of $84.41 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.55 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The firm had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the prior year, the company posted $0.41 EPS. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Benchmark decreased their price objective on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price objective on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, Morgan Stanley boosted their target price on shares of Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of "Hold" and a consensus target price of $142.10.

Airbnb Company 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.