Exchange Traded Concepts LLC Has $2.59 Million Holdings in Airbnb, Inc. $ABNB

Exchange Traded Concepts LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 39.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,087 shares of the company’s stock after acquiring an additional 5,407 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Airbnb were worth $2,590,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Airbnb by 3.5% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company’s stock valued at $116,873,000 after buying an additional 32,501 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Airbnb by 15.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock worth $8,022,000 after acquiring an additional 8,636 shares in the last quarter. Cerity Partners LLC lifted its stake in Airbnb by 18.1% in the 3rd quarter. Cerity Partners LLC now owns 364,824 shares of the company’s stock worth $44,297,000 after acquiring an additional 55,838 shares in the last quarter. National Pension Service boosted its position in Airbnb by 1.1% during the 3rd quarter. National Pension Service now owns 1,096,411 shares of the company’s stock worth $133,126,000 after acquiring an additional 12,453 shares during the period. Finally, Abacus FCF Advisors LLC boosted its position in Airbnb by 7.8% during the 3rd quarter. Abacus FCF Advisors LLC now owns 135,577 shares of the company’s stock worth $16,462,000 after acquiring an additional 9,864 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Citizens Jmp upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Wednesday, February 4th. Argus raised shares of Airbnb to a “strong-buy” rating in a research report on Tuesday, February 17th. Citigroup raised shares of Airbnb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. Finally, TD Cowen upped their price objective on shares of Airbnb from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $147.79.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 4,260 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $125.29, for a total value of $533,735.40. Following the completion of the sale, the insider directly owned 49,250 shares of the company’s stock, valued at $6,170,532.50. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $130.00, for a total transaction of $487,500.00. Following the transaction, the chief financial officer owned 402,417 shares in the company, valued at approximately $52,314,210. This trade represents a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 363,510 shares of company stock valued at $47,179,050. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

Shares of ABNB stock opened at $126.28 on Wednesday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $143.88. The stock’s 50-day moving average is $128.54 and its two-hundred day moving average is $126.93. The firm has a market cap of $76.87 billion, a P/E ratio of 31.26, a PEG ratio of 1.51 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $0.73 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

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.