New England Research & Management Inc. Takes $926,000 Position in Airbnb, Inc. $ABNB

Key Points

• New England Research & Management Inc. has acquired a new stake in Airbnb, purchasing 7,000 shares worth approximately $926,000.
• Several other institutional investors have made changes to their holdings in Airbnb, with 80.76% of the stock owned by such entities.
• Airbnb's stock price has been affected by recent analyst activity, with price targets from various firms ranging from $104.00 to $165.00, and a consensus rating of "Hold".

New England Research & Management Inc. bought a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,000 shares of the company's stock, valued at approximately $926,000.

Other hedge funds have also modified their holdings of the company. Triumph Capital Management acquired a new position in Airbnb during the second quarter worth $202,000. Czech National Bank lifted its stake in shares of Airbnb by 6.1% in the second quarter. Czech National Bank now owns 105,522 shares of the company's stock valued at $13,965,000 after buying an additional 6,097 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Airbnb by 4.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 18,103 shares of the company's stock valued at $2,395,000 after buying an additional 800 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Airbnb by 17.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,415 shares of the company's stock worth $187,000 after purchasing an additional 215 shares during the period. Finally, Everpar Advisors LLC bought a new position in shares of Airbnb in the second quarter valued at approximately $221,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABNB has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Zacks Research raised shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada boosted their price target on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Jefferies Financial Group lowered their price objective on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, Truist Financial lowered their price objective on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $141.68.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the completion of the transaction, the chief financial officer owned 444,070 shares of the company's stock, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief technology officer directly owned 202,006 shares of the company's stock, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,326 shares of company stock worth $188,798,155 in the last 90 days. Corporate insiders own 27.91% of the company's stock.

Airbnb Stock Down 1.8%

Shares of NASDAQ:ABNB opened at $120.37 on Tuesday. The company's 50 day moving average price is $130.13 and its two-hundred day moving average price is $128.29. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm has a market cap of $74.80 billion, a PE ratio of 29.15, a PEG ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts expect that Airbnb, Inc. will post 4.31 EPS 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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