Advisors Asset Management Inc. Purchases 1,008 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Advisors Asset Management Inc. raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,883 shares of the company’s stock after buying an additional 1,008 shares during the quarter. Advisors Asset Management Inc.’s holdings in Airbnb were worth $1,795,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in Airbnb during the fourth quarter worth about $26,000. Assenagon Asset Management S.A. grew its position in shares of Airbnb by 4.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock worth $1,119,000 after purchasing an additional 333 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Airbnb during the 4th quarter worth approximately $30,000. Caprock Group LLC increased its holdings in shares of Airbnb by 86.7% during the fourth quarter. Caprock Group LLC now owns 5,522 shares of the company’s stock worth $752,000 after purchasing an additional 2,564 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its position in shares of Airbnb by 11.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 4,219 shares of the company’s stock valued at $574,000 after buying an additional 426 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of ABNB stock opened at $140.10 on Friday. The firm has a 50 day moving average of $147.78 and a 200-day moving average of $152.23. The company has a market cap of $90.23 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. Airbnb’s revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast that Airbnb, Inc. will post 4.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABNB has been the topic of a number of recent research reports. Tigress Financial raised their price objective on Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Piper Sandler restated a “neutral” rating and issued a $155.00 target price (up previously from $145.00) on shares of Airbnb in a research report on Thursday, May 9th. UBS Group upped their price target on shares of Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and raised their price objective for the company from $150.00 to $200.00 in a report on Wednesday, April 24th. Finally, Morgan Stanley upped their target price on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $152.50.

Insider Buying and Selling

In other news, CAO David C. Bernstein sold 2,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $145.50, for a total transaction of $291,000.00. Following the completion of the sale, the chief accounting officer now directly owns 45,043 shares of the company’s stock, valued at $6,553,756.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total value of $6,750,299.60. Following the transaction, the director now owns 46,467 shares in the company, valued at approximately $6,971,908.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David C. Bernstein sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $145.50, for a total value of $291,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 45,043 shares of the company’s stock, valued at $6,553,756.50. The disclosure for this sale can be found here. Insiders have sold a total of 736,092 shares of company stock worth $109,519,936 in the last ninety days. Corporate insiders own 27.83% of the company’s stock.

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.