Bank of Nova Scotia Acquires 884,439 Shares of Airbnb, Inc. $ABNB

Bank of Nova Scotia lifted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 1,232.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 956,188 shares of the company’s stock after acquiring an additional 884,439 shares during the period. Bank of Nova Scotia owned approximately 0.15% of Airbnb worth $126,542,000 at the end of the most recent reporting period.

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

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $124.32 on Monday. The firm has a market capitalization of $76.53 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a fifty day moving average of $121.53 and a 200 day moving average of $127.45.

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

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $130.00, for a total value of $975,000.00. Following the completion of the sale, the chief financial officer directly owned 436,570 shares in the company, valued at approximately $56,754,100. The trade was a 1.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $118.47, for a total transaction of $6,871,260.00. Following the completion of the sale, the director directly owned 692,015 shares of the company’s stock, valued at $81,983,017.05. This trade represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,575,867 shares of company stock worth $190,875,764. 27.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ABNB shares. Citizens Jmp raised shares of Airbnb to a “hold” rating in a report on Monday, August 11th. Truist Financial boosted their price target on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research report on Thursday. Mizuho set a $156.00 price target on shares of Airbnb in a report on Friday, November 7th. UBS Group lifted their price objective on Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Jefferies Financial Group boosted their target price on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $143.88.

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.