Whittier Trust Co. Lowers Position in Airbnb, Inc. $ABNB

Whittier Trust Co. lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,955 shares of the company’s stock after selling 2,057 shares during the period. Whittier Trust Co.’s holdings in Airbnb were worth $2,111,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Kentucky Trust Co purchased a new position in shares of Airbnb during the 2nd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Airbnb by 70.9% during the 2nd 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 in the last quarter. Concord Wealth Partners purchased a new position in shares of Airbnb during the 2nd quarter valued at approximately $28,000. Stonebridge Financial Group LLC lifted its position in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after buying an additional 106 shares in the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in shares of Airbnb by 363.6% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.8%

Shares of ABNB opened at $127.50 on Thursday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market capitalization of $79.23 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. The stock has a fifty day simple moving average of $124.36 and a two-hundred day simple moving average of $127.54.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ABNB. Citizens Jmp raised Airbnb to a “hold” rating in a research note on Monday, August 11th. Phillip Securities raised Airbnb from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. UBS Group reduced their price objective on Airbnb from $156.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.81.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares of the company’s stock, valued at approximately $57,027,469.40. This trade represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $119.22, for a total value of $28,135,920.00. Following the sale, the director directly owned 704,015 shares of the company’s stock, valued at $83,932,668.30. The trade was a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,425,876 shares of company stock valued at $177,336,982. 27.91% of the stock is currently owned by insiders.

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.