Sei Investments Co. Purchases 14,712 Shares of Airbnb, Inc. $ABNB

Key Points

• Sei Investments Co. increased its holdings in Airbnb, acquiring an additional 14,712 shares, bringing their total to 753,405 shares, valued at approximately $98.77 million.
• In insider news, Director Joseph Gebbia sold 236,000 shares at an average price of $139.40, reducing his stake by 16.67%.
• Airbnb's recent earnings report showed a 12.7% year-over-year revenue increase, with earnings per share of $1.03, surpassing the consensus estimate of $0.92.

Sei Investments Co. increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 753,405 shares of the company's stock after purchasing an additional 14,712 shares during the quarter. Airbnb accounts for 0.9% of Sei Investments Co.'s holdings, making the stock its 24th biggest position. Sei Investments Co. owned approximately 0.12% of Airbnb worth $98,771,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Sit Investment Associates Inc. lifted its holdings in Airbnb by 42.8% during 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 last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of Airbnb by 74.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock worth $2,451,000 after purchasing an additional 8,780 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of 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 purchasing an additional 484 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Airbnb by 0.4% during the first 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 during the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Insiders Place Their Bets

In other news, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the completion of the sale, the director owned 944,015 shares in the company, valued at $122,212,181.90. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,454,493 shares of company stock worth $194,497,481 over the last three months. Company insiders own 27.83% of the company's stock.

Airbnb Stock Performance

ABNB traded up $0.2660 on Tuesday, hitting $125.7560. 1,773,587 shares of the company were exchanged, compared to its average volume of 5,301,356. The stock has a market capitalization of $78.15 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 2.28 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 firm has a fifty day simple moving average of $133.49 and a two-hundred day simple moving average of $130.65.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data 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 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 analyst estimates of $3.02 billion. During the same period last year, the company earned $0.86 EPS. The business's quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several recent analyst reports. Susquehanna dropped their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research note on Monday, May 5th. Citizens Jmp raised Airbnb to a "hold" rating in a research report on Monday, August 11th. Truist Financial reaffirmed a "sell" rating and set a $106.00 target price (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Morgan Stanley decreased their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Finally, Jefferies Financial Group reduced their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Airbnb currently has an average 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.