Sentry Investment Management LLC Increases Stake in Airbnb, Inc. $ABNB

Key Points

• Sentry Investment Management LLC significantly increased its stake in Airbnb by 178.6% during the second quarter, owning 3,886 shares valued at $532,000.
• Analyst ratings for Airbnb reveal a mix of opinions, with three analysts rating it as a Strong Buy and a consensus average price target of $141.81, indicating a generally cautious outlook.
• Airbnb's recent quarterly earnings showed a profit of $1.03 EPS compared to the expected $0.92, with revenue of $3.10 billion, reflecting a 12.7% increase year-over-year.

Sentry Investment Management LLC lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 178.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,886 shares of the company's stock after purchasing an additional 2,491 shares during the quarter. Sentry Investment Management LLC's holdings in Airbnb were worth $532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sit Investment Associates Inc. grew its holdings in shares of 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 purchasing an additional 5,060 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in shares of 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 in the last quarter. Plato Investment Management Ltd grew its holdings 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 valued at $2,291,000 after purchasing an additional 6,579 shares in the last quarter. Acadian Asset Management LLC grew its holdings 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 valued at $293,590,000 after purchasing an additional 850,719 shares in the last quarter. Finally, York GP Ltd. purchased a new position in shares of Airbnb in the second quarter valued at $6,617,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ABNB. UBS Group dropped their price objective on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a "hold" rating in a report on Monday, August 11th. Mizuho started coverage on shares of Airbnb in a report on Monday, September 29th. They issued an "outperform" rating and a $151.00 target price for the company. Truist Financial cut their price objective on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a report on Wednesday, September 3rd. Finally, BTIG Research reiterated a "neutral" rating on shares of Airbnb in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $141.81.

Airbnb Price Performance

Shares of Airbnb stock opened at $125.91 on Monday. The business has a 50-day moving average of $123.99 and a 200 day moving average of $127.39. The stock has a market capitalization of $78.25 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

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

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the completion of the sale, the director directly owned 704,015 shares in the company, valued at $83,932,668.30. This represents a 25.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $120.46, for a total value of $72,276.00. Following the transaction, the chief technology officer directly owned 197,806 shares in the company, valued at approximately $23,827,710.76. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,430,876 shares of company stock valued at $178,056,060 over the last three months. Insiders own 27.83% of the company's stock.

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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