Meitav Investment House Ltd. Has $6.50 Million Holdings in Airbnb, Inc. $ABNB

Key Points

• Meitav Investment House Ltd. increased its holdings in Airbnb by 60% in Q2, bringing its total to 49,095 shares valued at approximately $6.50 million.
• Insider trading activity saw CTO Aristotle N. Balogh and Director Joseph Gebbia sell significant portions of their stock, collectively amounting to over $32 million in sales.
• Analysts have mixed ratings on Airbnb, with three strong buy ratings but a consensus rating of “hold” and an average price target of $141.81.

Meitav Investment House Ltd. grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 60.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,095 shares of the company's stock after acquiring an additional 18,411 shares during the quarter. Meitav Investment House Ltd.'s holdings in Airbnb were worth $6,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Kentucky Trust Co bought a new position in Airbnb in the 2nd quarter valued at approximately $25,000. Stonebridge Financial Group LLC increased its holdings in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after buying an additional 106 shares in the last quarter. Armstrong Advisory Group Inc. lifted its stake in shares of Airbnb by 363.6% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 200 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of 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 in the last quarter. Finally, SouthState Corp grew its position in Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after acquiring an additional 201 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $124.96, for a total transaction of $74,976.00. Following the transaction, the chief technology officer directly owned 202,006 shares of the company's stock, valued at $25,242,669.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the sale, the director owned 472,015 shares of the company's stock, valued at $65,529,842.45. The trade was a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,431,476 shares of company stock valued at $182,776,618. 27.83% of the stock is owned by insiders.

Analyst Ratings Changes

ABNB has been the topic of a number of recent research reports. Morgan Stanley cut 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. JPMorgan Chase & Co. lifted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wedbush decreased their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Zacks Research raised shares of Airbnb to a "hold" rating in a research note on Tuesday, August 12th. Finally, Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $141.81.

Airbnb Stock Up 0.1%

ABNB stock opened at $120.35 on Tuesday. The firm has a market cap of $74.79 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 2.19 and a beta of 1.10. The company's fifty day simple moving average is $125.42 and its 200 day simple moving average is $127.53. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping 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 firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the company posted $0.86 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.

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