Econ Financial Services Corp Buys New Shares in Airbnb, Inc. $ABNB

Econ Financial Services Corp purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,172 shares of the company’s stock, valued at approximately $2,328,000.

A number of other hedge funds also recently bought and sold shares of the stock. Harris Associates L P grew its position in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after buying an additional 4,292,383 shares in the last quarter. Norges Bank acquired a new position in Airbnb during the 2nd quarter worth approximately $483,644,000. Amundi increased its position in shares of Airbnb by 112.3% in the 2nd quarter. Amundi now owns 2,670,251 shares of the company’s stock valued at $361,525,000 after purchasing an additional 1,412,608 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Airbnb in the 2nd quarter valued at $170,189,000. Finally, Bank of Nova Scotia lifted its position in shares of Airbnb by 1,232.7% during the 2nd quarter. Bank of Nova Scotia now owns 956,188 shares of the company’s stock worth $126,542,000 after purchasing an additional 884,439 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the transaction, the chief executive officer directly owned 45,854 shares of the company’s stock, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Elinor Mertz sold 7,500 shares of Airbnb stock in a transaction on Friday, December 12th. The shares were sold at an average price of $130.00, for a total transaction of $975,000.00. Following the completion of the transaction, the chief financial officer owned 418,030 shares in the company, valued at approximately $54,343,900. This represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,576,606 shares of company stock worth $193,108,240 over the last 90 days. Company insiders own 27.91% of the company’s stock.

Airbnb Stock Down 0.9%

Shares of NASDAQ ABNB opened at $135.72 on Friday. The business has a 50-day moving average price of $125.42 and a 200 day moving average price of $127.53. The stock has a market cap of $83.54 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data 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 firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. Airbnb’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on ABNB shares. DA Davidson restated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday, December 5th. UBS Group increased their price objective on Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, October 8th. BNP Paribas Exane assumed coverage on Airbnb in a research note on Monday, November 24th. They set a “neutral” rating for the company. Finally, Royal Bank Of Canada upgraded shares of Airbnb from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $145.00 to $170.00 in a research note on Wednesday, December 17th. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $144.48.

Airbnb Profile

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.