Bank of Nova Scotia Has $153.65 Million Holdings in Airbnb, Inc. $ABNB

Bank of Nova Scotia lessened its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,216,719 shares of the company’s stock after selling 157,987 shares during the period. Bank of Nova Scotia owned approximately 0.20% of Airbnb worth $153,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ABNB. Merit Financial Group LLC boosted its stake in Airbnb by 72.1% during the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock valued at $4,478,000 after buying an additional 13,818 shares in the last quarter. North Dakota State Investment Board acquired a new stake in Airbnb in the 4th quarter valued at about $2,785,000. North Star Asset Management Inc. boosted its position in shares of Airbnb by 13.4% during the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock valued at $10,663,000 after purchasing an additional 9,294 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Airbnb by 18.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock valued at $30,305,000 after purchasing an additional 34,573 shares in the last quarter. Finally, Danske Bank A S grew its stake in shares of Airbnb by 11.0% in the 4th quarter. Danske Bank A S now owns 235,557 shares of the company’s stock worth $31,970,000 after purchasing an additional 23,422 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $137.57 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $150.88. The business has a fifty day simple moving average of $139.68 and a 200 day simple moving average of $134.58. The firm has a market cap of $82.91 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 1.50 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.92 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 13,615 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.37, for a total value of $2,020,057.55. Following the completion of the sale, the insider owned 81,677 shares of the company’s stock, valued at approximately $12,118,416.49. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth I. Chenault sold 8,346 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $150.00, for a total value of $1,251,900.00. Following the completion of the transaction, the director owned 40,879 shares in the company, valued at $6,131,850. This represents a 16.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,231,864 shares of company stock valued at $308,474,278 in the last quarter. Corporate insiders own 27.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ABNB. HC Wainwright raised shares of Airbnb to a “buy” rating in a research note on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $173.00 price target on shares of Airbnb in a report on Thursday, May 21st. The Goldman Sachs Group set a $155.00 price objective on Airbnb in a research note on Monday. Rodman & Renshaw began coverage on Airbnb in a report on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Evercore reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.65.

Airbnb Company 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.