Te Ahumairangi Investment Management Ltd Invests $799,000 in Airbnb, Inc. $ABNB

Key Points

• Te Ahumairangi Investment Management Ltd has acquired a new position in Airbnb, Inc., purchasing 6,687 shares valued at approximately $799,000 during the first quarter.
• Airbnb's stock is currently trading at around $130.46, with a market capitalization of $81.07 billion and a P/E ratio of 31.59.
• Insider activity has seen significant sales, with insiders unloading over 1.4 million shares valued at approximately $192.5 million in the last quarter, while company insiders hold 27.91% of the stock.

Te Ahumairangi Investment Management Ltd bought a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 6,687 shares of the company's stock, valued at approximately $799,000.

Several other large investors have also added to or reduced their stakes in ABNB. Park Square Financial Group LLC bought a new position in Airbnb during the 4th quarter worth about $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC raised its stake in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, SouthState Corp raised its holdings in shares of Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of several recent analyst reports. BNP Paribas raised Airbnb to a "hold" rating in a research report on Wednesday, July 16th. UBS Group decreased their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Zacks Research raised Airbnb to a "hold" rating in a research note on Tuesday, August 12th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Finally, Morgan Stanley reduced their target price on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $142.72.

Insider Transactions at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider owned 182,514 shares in the company, valued at approximately $22,850,752.80. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $125.36, for a total value of $29,584,960.00. Following the transaction, the director owned 15 shares of the company's stock, valued at approximately $1,880.40. This represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,440,546 shares of company stock valued at $191,913,918. Company insiders own 27.83% of the company's stock.

Airbnb Trading Down 2.3%

NASDAQ:ABNB traded down $2.94 during trading hours on Tuesday, hitting $127.59. 3,919,218 shares of the company traded hands, compared to its average volume of 5,235,151. The stock has a market capitalization of $79.29 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 2.38 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a 50-day moving average of $132.20 and a 200 day moving average of $130.04.

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

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.