Avanza Fonder AB Raises Stake in Airbnb, Inc. $ABNB

Avanza Fonder AB grew its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,092 shares of the company’s stock after acquiring an additional 5,801 shares during the period. Avanza Fonder AB’s holdings in Airbnb were worth $3,897,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CEO Brian Chesky sold 51,230 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the completion of the transaction, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. The trade was a 52.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 141,063 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the sale, the insider owned 11,520 shares in the company, valued at $1,404,979.20. The trade was a 92.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,754,606 shares of company stock worth $214,342,160. 27.91% of the stock is currently owned by company insiders.

Airbnb Trading Up 0.0%

Shares of ABNB stock opened at $136.82 on Friday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company’s 50-day moving average price is $124.73 and its 200-day moving average price is $127.58. The stock has a market cap of $84.22 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.41 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business posted $2.13 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BNP Paribas Exane assumed coverage on shares of Airbnb in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. BNP Paribas initiated coverage on shares of Airbnb in a research note on Monday, November 24th. They issued a “hold” rating on the stock. KeyCorp assumed coverage on Airbnb in a research note on Thursday, October 23rd. They set a “sector weight” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. Finally, UBS Group lifted their price target on Airbnb from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus target price of $144.48.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.