EFG Asset Management Americas Corp. Buys 5,065 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• EFG Asset Management Americas Corp. increased its stake in Airbnb by 15.1%, acquiring an additional 5,065 shares, bringing its total holdings to 38,591 shares worth approximately $4,610,000.
• Airbnb's stock is currently rated as a "Hold" by analysts, with a consensus price target of $142.10, following mixed evaluations from various financial institutions.
• Corporate insiders sold a total of 1,655,558 shares of Airbnb stock valued at $219,678,073 over the last quarter, with insiders owning 27.91% of the company's shares.

EFG Asset Management Americas Corp. raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,591 shares of the company's stock after purchasing an additional 5,065 shares during the quarter. EFG Asset Management Americas Corp.'s holdings in Airbnb were worth $4,610,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. MJP Associates Inc. ADV grew its position in shares of 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 purchasing an additional 67 shares during the last quarter. Ellevest Inc. boosted its position in shares of 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 acquiring an additional 80 shares during the period. Harbour Investments Inc. boosted its position in shares of Airbnb by 12.2% in the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock valued at $88,000 after acquiring an additional 80 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock valued at $237,000 after acquiring an additional 83 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Airbnb by 7.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock valued at $176,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity

In related news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.40, for a total value of $32,898,400.00. Following the sale, the director directly owned 1,180,015 shares in the company, valued at $164,494,091. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $123.43, for a total value of $771,437.50. Following the completion of the sale, the chief financial officer owned 485,080 shares in the company, valued at $59,873,424.40. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,655,558 shares of company stock valued at $219,678,073 over the last quarter. 27.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ABNB shares. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. BNP Paribas raised shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Benchmark reduced their target price on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Canaccord Genuity Group reduced their target price on shares of Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, JMP Securities reissued a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $142.10.

Airbnb Stock Performance

Shares of Airbnb stock traded down $4.39 on Friday, hitting $128.02. The stock had a trading volume of 5,099,194 shares, compared to its average volume of 3,253,950. The stock has a 50 day moving average of $135.13 and a 200 day moving average of $131.22. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market capitalization of $80.19 billion, a P/E ratio of 32.33, a PEG ratio of 2.46 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $2.26 billion. During the same period in the prior year, the company earned $0.41 EPS. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

About Airbnb

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.