Vestmark Advisory Solutions Inc. Has $2.45 Million Stake in Airbnb, Inc. $ABNB

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Airbnb by 74.8%, purchasing an additional 8,780 shares, raising their total holdings to 20,514 shares valued at approximately $2.45 million.
• Insider trades have been notable, with CEO Brian Chesky and Director Joseph Gebbia selling a combined total of 244,000 shares, marking significant decreases in their ownership.
• Airbnb's stock opened at $125.10, and the company reported a quarterly earnings per share of $1.03, exceeding analysts' expectations of $0.92.

Vestmark Advisory Solutions Inc. boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 74.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,514 shares of the company's stock after acquiring an additional 8,780 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Airbnb were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Airbnb by 1.6% in the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after purchasing an additional 604,120 shares during the last quarter. Northern Trust Corp grew its stake in shares of Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after buying an additional 331,607 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after buying an additional 1,389,251 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after buying an additional 2,577,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Airbnb by 3.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,894,569 shares of the company's stock worth $345,785,000 after buying an additional 103,925 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares in the company, valued at approximately $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David C. Bernstein sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction 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. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,454,493 shares of company stock valued at $194,497,481. 27.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABNB shares. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Canaccord Genuity Group reduced their target price on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 28th. Truist Financial reaffirmed a "sell" rating and issued a $106.00 price target (down previously from $112.00) on shares of Airbnb in a report on Friday, May 30th. Piper Sandler cut their target price on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Two equities 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Airbnb has a consensus rating of "Hold" and a consensus price target of $142.72.

Airbnb Stock Down 1.2%

Shares of ABNB traded down $1.4830 during midday trading on Wednesday, reaching $124.5170. 2,537,235 shares of the stock were exchanged, compared to its average volume of 5,296,106. The stock's 50 day simple moving average is $133.24 and its 200 day simple moving average is $130.62. The company has a market cap of $77.38 billion, a P/E ratio of 30.17, a PEG ratio of 2.29 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve 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, beating 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 for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Airbnb's revenue was up 12.7% compared to the same quarter last year. As a group, analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.