S Bank Fund Management Ltd Buys Shares of 6,274 Airbnb, Inc. $ABNB

Key Points

• S Bank Fund Management Ltd acquired 6,274 shares of Airbnb, valued at approximately $830,000, during the second quarter, indicating growing institutional interest in the company.
• Airbnb's latest earnings report showed an earnings per share (EPS) of $1.03, surpassing analyst expectations, and a revenue of $3.10 billion, up 12.7% year-over-year.
• The stock has a current market cap of $77.22 billion and an average price target of $141.81, with the majority of analysts rating it a 'Hold.'

S Bank Fund Management Ltd bought a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,274 shares of the company's stock, valued at approximately $830,000.

Other institutional investors also recently bought and sold shares of the company. Sit Investment Associates Inc. lifted its holdings in Airbnb by 42.8% in the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock valued at $2,015,000 after acquiring an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. lifted its holdings in Airbnb by 74.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock valued at $2,451,000 after acquiring an additional 8,780 shares during the period. Plato Investment Management Ltd raised its stake in shares of Airbnb by 53.1% in the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock worth $2,291,000 after buying an additional 6,579 shares during the period. Acadian Asset Management LLC raised its stake in shares of Airbnb by 52.9% in the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock worth $293,590,000 after buying an additional 850,719 shares during the period. Finally, Ritholtz Wealth Management raised its stake in shares of Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after buying an additional 484 shares during the period. Institutional investors own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of Airbnb stock opened at $124.26 on Thursday. The stock has a market cap of $77.22 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The stock has a 50 day moving average price of $123.83 and a 200-day moving average price of $127.21. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

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

Wall Street Analysts Forecast Growth

ABNB has been the topic of several recent research reports. Jefferies Financial Group decreased their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Airbnb in a research note on Wednesday, October 8th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Truist Financial decreased their target price on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research note on Wednesday, September 3rd. Finally, Phillip Securities raised 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 issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Airbnb currently has an average rating of "Hold" and a consensus target price of $141.81.

Insider Buying and Selling

In related news, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 2,246 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the sale, the insider directly owned 182,514 shares of the company's stock, valued at $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,666,876 shares of company stock worth $210,819,940 in the last 90 days. Company insiders own 27.91% of the company's stock.

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.

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