Edgestream Partners L.P. Purchases Shares of 46,368 Airbnb, Inc. $ABNB

Edgestream Partners L.P. purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,368 shares of the company’s stock, valued at approximately $6,136,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kentucky Trust Co purchased a new position in Airbnb during the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock valued at $26,000 after acquiring an additional 83 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Airbnb in the second quarter worth approximately $28,000. Whipplewood Advisors LLC raised its stake in Airbnb by 235.3% in the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after purchasing an additional 160 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in Airbnb by 363.6% during the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.3%

NASDAQ ABNB opened at $118.50 on Wednesday. The company has a 50-day simple moving average of $121.60 and a two-hundred day simple moving average of $127.67. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm has a market cap of $72.94 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.09 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $2.13 EPS. Equities analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of research analyst reports. BTIG Research reissued a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. BMO Capital Markets set a $124.00 target price on Airbnb and gave the company a “market perform” rating in a research note on Thursday, August 7th. DA Davidson set a $155.00 price target on Airbnb in a research report on Friday, November 14th. Barclays upped their price objective on Airbnb from $105.00 to $107.00 and gave the stock an “underweight” rating in a report on Friday, November 7th. Finally, Citizens Jmp raised Airbnb to a “hold” rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $143.58.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 3,307 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $116.71, for a total value of $385,959.97. Following the transaction, the insider owned 175,793 shares in the company, valued at approximately $20,516,801.03. This trade represents a 1.85% 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 hyperlink. Also, CTO Aristotle N. Balogh sold 549 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $116.04, for a total transaction of $63,705.96. Following the sale, the chief technology officer owned 187,686 shares of the company’s stock, valued at $21,779,083.44. This represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,440,340 shares of company stock worth $174,660,950. Company insiders own 27.83% of the company’s stock.

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.