Airbnb, Inc. (NASDAQ:ABNB) Shares Purchased by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Airbnb by 69.3% during the 1st quarter, holding 397,801 shares valued at approximately $47.52 million.
• Recent analyst ratings show a mixed outlook for Airbnb, with 16 hold ratings and five sell ratings, while target prices range from $105 to $156.
• In insider trading activity, CEO Brian Chesky and Director Joseph Gebbia have sold significant amounts of Airbnb stock, with a total of over 1.67 million shares sold by insiders in the past three months.

National Bank of Canada FI grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 69.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 397,801 shares of the company's stock after purchasing an additional 162,784 shares during the period. National Bank of Canada FI owned approximately 0.06% of Airbnb worth $47,521,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its position in shares of Airbnb by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after purchasing an additional 484 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Airbnb by 0.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after purchasing an additional 228 shares in the last quarter. Spire Wealth Management raised its stake in shares of Airbnb by 40.1% during the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of Airbnb by 366.3% in the 1st quarter. Golden State Wealth Management LLC now owns 886 shares of the company's stock worth $106,000 after buying an additional 696 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Airbnb by 39.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,246 shares of the company's stock valued at $8,750,000 after acquiring an additional 20,753 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the transaction, the chief financial officer directly owned 467,611 shares in the company, valued at $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction 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 transaction, the director owned 1,180,015 shares in the company, valued at $164,494,091. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,671,023 shares of company stock worth $223,195,427 over the last ninety days. 27.91% of the stock is owned by insiders.

Airbnb Stock Up 0.7%

Shares of Airbnb stock traded up $0.84 on Thursday, hitting $125.39. 2,485,140 shares of the company's stock traded hands, compared to its average volume of 5,324,571. The stock has a market cap of $78.55 billion, a P/E ratio of 30.34, a PEG ratio of 2.22 and a beta of 1.13. The firm's 50-day moving average is $134.33 and its 200 day moving average is $130.78. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

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

Wall Street Analysts Forecast Growth

ABNB has been the subject of several recent research reports. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 target price on shares of Airbnb in a report on Wednesday, May 14th. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. JMP Securities restated a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Royal Bank Of Canada raised their target price on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Finally, Truist Financial restated a "sell" rating and set a $106.00 target price (down from $112.00) on shares of Airbnb in a report on Friday, May 30th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $142.72.

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.