Airbnb, Inc. $ABNB Position Boosted by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Airbnb, Inc. by 23.2% during the first quarter, owning over 1.15 million shares valued at approximately $138.17 million as per recent SEC filings.
• Airbnb's stock gained 2.8%, trading at $129.92, with a market capitalization of $80.74 billion and an earnings per share (EPS) of $1.03, surpassing analysts' expectations.
• Insiders, including Director Joseph Gebbia and CEO Brian Chesky, have sold significant portions of their shares, with Gebbia selling 236,000 shares and Chesky 8,000 shares in recent transactions.

Ameriprise Financial Inc. increased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 23.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,156,607 shares of the company's stock after acquiring an additional 217,971 shares during the period. Ameriprise Financial Inc. owned approximately 0.18% of Airbnb worth $138,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABNB. Park Square Financial Group LLC acquired a new stake in Airbnb during the 4th quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in Airbnb during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC grew its holdings 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 buying an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings 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 buying an additional 174 shares during the last quarter. Finally, SouthState Corp grew its holdings in Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Up 2.3%

Shares of Airbnb stock traded up $2.96 during trading hours on Wednesday, hitting $129.85. 3,826,693 shares of the company's stock traded hands, compared to its average volume of 5,259,209. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a 50 day simple moving average of $132.31 and a 200-day simple moving average of $130.47. The company has a market cap of $80.69 billion, a PE ratio of 31.44, a PEG ratio of 2.34 and a beta of 1.13.

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

Insider Buying and Selling

In other news, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares of the company's stock, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the transaction, the director directly owned 15 shares in the company, valued at $1,880.40. The trade was a 99.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,454,830 shares of company stock worth $193,751,948. 27.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on ABNB shares. Susquehanna lowered their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Benchmark reduced their price target on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Truist Financial reissued a "sell" rating and set a $106.00 price target (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Royal Bank Of Canada increased their price target on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, Morgan Stanley reduced their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $142.72.

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.