Federated Hermes Inc. Acquires 10,794 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Federated Hermes Inc. increased its holdings in Airbnb by 5.4% during Q1, acquiring an additional 10,794 shares, bringing their total to 210,429 shares valued at approximately $25.1 million.
• Insiders sold a total of 1,655,558 shares worth about $219.7 million over the last quarter, with the CFO selling 6,250 shares and the CAO selling 5,000 shares at average prices of $135.86 and $142.00 respectively.
• Research analysts have given Airbnb an average rating of "Hold" with a target price of $142.10, while recent upgrades and downgrades reflect varying sentiments about the company's stock performance expectations.

Federated Hermes Inc. boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,429 shares of the company's stock after buying an additional 10,794 shares during the quarter. Federated Hermes Inc.'s holdings in Airbnb were worth $25,138,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABNB. MJP Associates Inc. ADV boosted its position in Airbnb by 1.8% in the fourth quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock valued at $490,000 after buying an additional 67 shares in the last quarter. Ellevest Inc. boosted its position in Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock valued at $349,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Airbnb by 4.4% during the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after purchasing an additional 83 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Airbnb by 3.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,490 shares of the company's stock worth $327,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Analyst Ratings Changes

ABNB has been the topic of a number of research reports. Canaccord Genuity Group reduced their target price on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Truist Financial reiterated a "sell" rating and set a $106.00 target price (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Barclays upped their target price on shares of Airbnb from $103.00 to $104.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Susquehanna reduced their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. Finally, DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and cut their price objective for the company from $170.00 to $155.00 in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Airbnb has an average rating of "Hold" and an average target price of $142.10.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the transaction, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the transaction, the director directly owned 472,015 shares of the company's stock, valued at approximately $65,529,842.45. This trade represents a 33.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,435,023 shares of company stock worth $192,583,867 over the last three months. 27.83% of the stock is currently owned by insiders.

Airbnb Trading Down 0.6%

Shares of ABNB stock traded down $0.80 during trading hours on Tuesday, hitting $130.16. 4,120,891 shares of the company were exchanged, compared to its average volume of 5,169,712. The business has a 50 day moving average of $135.22 and a two-hundred day moving average of $131.18. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The company has a market capitalization of $81.54 billion, a PE ratio of 32.87, a PEG ratio of 2.38 and a beta of 1.13.

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.