Total Clarity Wealth Management Inc. Invests $527,000 in Airbnb, Inc. $ABNB

Key Points

• Total Clarity Wealth Management Inc. invested approximately $527,000 in Airbnb, Inc. ($ABNB) during the second quarter, purchasing nearly 3,984 shares.
• Significant ownership of Airbnb stock is held by institutional investors, with 80.76% of shares owned by them.
• Airbnb's recent earnings report revealed a net margin of 22.67% and a year-over-year revenue increase of 12.7%, with an EPS of $1.03, surpassing analysts' expectations.

Total Clarity Wealth Management Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,984 shares of the company's stock, valued at approximately $527,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sit Investment Associates Inc. grew its stake in shares of Airbnb by 42.8% during the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in shares of Airbnb by 74.8% during the 1st 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 period. Plato Investment Management Ltd grew its stake in shares of Airbnb by 53.1% during the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company's stock worth $2,291,000 after purchasing an additional 6,579 shares during the period. Acadian Asset Management LLC grew its stake in shares of Airbnb by 52.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company's stock worth $293,590,000 after purchasing an additional 850,719 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of Airbnb by 10.0% during the 1st 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 period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $122.91, for a total value of $73,746.00. Following the sale, the chief technology officer directly owned 199,006 shares in the company, valued at approximately $24,459,827.46. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the sale, the director owned 940,015 shares in the company, valued at approximately $116,157,653.55. This represents a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,430,876 shares of company stock valued at $182,694,292. 27.83% of the stock is owned by corporate insiders.

Airbnb Trading Up 0.6%

ABNB stock opened at $118.86 on Tuesday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market capitalization of $73.86 billion, a P/E ratio of 28.78, a PEG ratio of 2.16 and a beta of 1.10. The firm has a 50 day simple moving average of $124.10 and a 200-day simple moving average of $127.26.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Ratings Changes

ABNB has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research note on Wednesday, September 3rd. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a report on Wednesday, July 16th. UBS Group cut their price objective on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Barclays set a $105.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a "market perform" rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of "Hold" and an average price target of $141.81.

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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