Scott & Selber Inc. Invests $2.47 Million in Airbnb, Inc. $ABNB

Key Points

• Scott & Selber Inc. made a significant investment of $2.47 million by purchasing 18,662 shares of Airbnb, Inc. (NASDAQ:ABNB) in the second quarter of the year.
• The stock has recently seen a 1.6% increase in price and currently has a market cap of approximately $76.87 billion.
• Airbnb reported earnings of $1.03 per share, exceeding analysts' expectations and indicating a year-over-year revenue increase of 12.7%.

Scott & Selber Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,662 shares of the company's stock, valued at approximately $2,470,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sit Investment Associates Inc. lifted its stake in shares of Airbnb by 42.8% in the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock valued at $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. increased 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 purchasing an additional 8,780 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Airbnb by 53.1% in the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock valued at $2,291,000 after purchasing an additional 6,579 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Airbnb by 52.9% in the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock valued at $293,590,000 after buying an additional 850,719 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Airbnb by 10.0% during 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 last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Stock Up 1.6%

Shares of NASDAQ:ABNB opened at $123.70 on Monday. The firm has a market cap of $76.87 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.26 and a beta of 1.13. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company's fifty day simple moving average is $127.69 and its 200 day simple moving average is $127.71.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (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 revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial lowered their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday, September 3rd. Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. UBS Group reduced their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley decreased their price target on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price objective on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $141.46.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the sale, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00. Following the transaction, the director owned 1,176,015 shares of the company's stock, valued at $142,015,571.40. The trade was a 16.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,437,726 shares of company stock valued at $186,661,639 over the last ninety days. Insiders own 27.83% of the company's stock.

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.

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