UMB Bank n.a. Decreases Stock Position in Airbnb, Inc. $ABNB

UMB Bank n.a. reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 677 shares of the company’s stock after selling 142 shares during the quarter. UMB Bank n.a.’s holdings in Airbnb were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Wyoming raised its position in shares of Airbnb by 123.2% during the 4th quarter. State of Wyoming now owns 500 shares of the company’s stock worth $66,000 after purchasing an additional 276 shares during the last quarter. Mackenzie Financial Corp increased its position in Airbnb by 33.2% during the fourth quarter. Mackenzie Financial Corp now owns 52,619 shares of the company’s stock worth $6,915,000 after buying an additional 13,113 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Airbnb during the fourth quarter worth $44,397,000. Park Square Financial Group LLC acquired a new position in shares of Airbnb in the fourth quarter worth $26,000. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at $304,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Airbnb stock opened at $123.08 on Thursday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a 50 day moving average price of $128.36 and a 200 day moving average price of $127.73. The company has a market cap of $76.49 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 2.25 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Airbnb’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares in the company, valued at $57,027,469.40. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,437,726 shares of company stock valued at $186,661,639 in the last 90 days. 27.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of recent research reports. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Phillip Securities upgraded shares of Airbnb from a “moderate sell” rating to a “hold” rating in a report on Friday, August 8th. Wedbush cut their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Truist Financial reduced their price objective 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. Finally, UBS Group lowered their target price on shares of Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.19.

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.