Power Corp of Canada Acquires New Position in Airbnb, Inc. (NASDAQ:ABNB)

Power Corp of Canada acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,954 shares of the company’s stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABNB. Mine & Arao Wealth Creation & Management LLC. lifted its stake in shares of Airbnb by 65.8% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 378 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Airbnb by 96.2% in the third quarter. TCI Wealth Advisors Inc. now owns 357 shares of the company’s stock valued at $37,000 after purchasing an additional 175 shares during the period. Quadrant Capital Group LLC increased its holdings in Airbnb by 144.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 432 shares of the company’s stock valued at $38,000 after acquiring an additional 255 shares in the last quarter. Psagot Value Holdings Ltd. Israel purchased a new position in Airbnb during the 3rd quarter valued at about $38,000. Finally, Washington Trust Advisors Inc. increased its holdings in Airbnb by 32.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 451 shares of the company’s stock valued at $47,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Airbnb Trading Down 2.4 %

Shares of ABNB stock opened at $113.58 on Thursday. The stock has a market cap of $72.75 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.36. Airbnb, Inc. has a fifty-two week low of $81.91 and a fifty-two week high of $179.09. The firm’s 50 day moving average price is $113.98 and its two-hundred day moving average price is $107.40.

Airbnb (NASDAQ:ABNB – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.21. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Airbnb had a net margin of 22.54% and a return on equity of 35.92%. Airbnb’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. On average, analysts anticipate that Airbnb, Inc. will post 3.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Airbnb from $110.00 to $131.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Gordon Haskett downgraded shares of Airbnb from a “hold” rating to an “underperform” rating in a report on Wednesday, January 25th. HSBC raised their target price on shares of Airbnb from $158.00 to $163.00 in a report on Thursday, February 16th. Cowen raised their target price on shares of Airbnb from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. Finally, Barclays lifted their price target on shares of Airbnb from $105.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 15th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average price target of $140.52.

Insider Transactions at Airbnb

In other news, CAO David C. Bernstein sold 12,382 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $140.00, for a total transaction of $1,733,480.00. Following the transaction, the chief accounting officer now directly owns 50,171 shares of the company’s stock, valued at $7,023,940. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO David C. Bernstein sold 12,382 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $140.00, for a total transaction of $1,733,480.00. Following the transaction, the chief accounting officer now directly owns 50,171 shares of the company’s stock, valued at $7,023,940. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 54,256 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $125.00, for a total transaction of $6,782,000.00. Following the transaction, the director now directly owns 6,833,435 shares in the company, valued at $854,179,375. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,716,863 shares of company stock valued at $215,780,889. Corporate insiders own 32.69% of the company’s stock.

About Airbnb

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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.