Twin City Private Wealth LLC Acquires Shares of 6,581 Airbnb, Inc. $ABNB

Twin City Private Wealth LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,581 shares of the company’s stock, valued at approximately $871,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Pathway Capital Management LP bought a new position in shares of Airbnb in the second quarter worth about $300,000. UNIVEST FINANCIAL Corp grew its holdings in shares of Airbnb by 50.4% in the second quarter. UNIVEST FINANCIAL Corp now owns 23,920 shares of the company’s stock worth $3,166,000 after purchasing an additional 8,015 shares during the last quarter. Strs Ohio grew its holdings in shares of Airbnb by 8.4% in the second quarter. Strs Ohio now owns 103,777 shares of the company’s stock worth $13,734,000 after purchasing an additional 8,014 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Airbnb by 2.7% in the second quarter. Amalgamated Bank now owns 93,730 shares of the company’s stock worth $12,404,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in shares of Airbnb by 61.4% in the second quarter. Atria Investments Inc now owns 70,691 shares of the company’s stock worth $9,355,000 after purchasing an additional 26,887 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ABNB. Wedbush cut their price target on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. UBS Group cut their price target on shares of Airbnb from $148.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Royal Bank Of Canada upped their price target on shares of Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. Phillip Securities raised shares of Airbnb from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 8th. Finally, Citizens Jmp raised shares of Airbnb to a “hold” rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Airbnb has an average rating of “Hold” and a consensus target price of $141.70.

Airbnb Stock Performance

ABNB stock opened at $126.54 on Friday. The firm has a market cap of $78.64 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.30 and a beta of 1.10. The firm has a 50-day simple moving average of $124.55 and a two-hundred day simple moving average of $128.36. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

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

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $127.53, for a total transaction of $76,518.00. Following the completion of the sale, the chief technology officer directly owned 196,606 shares of the company’s stock, valued at approximately $25,073,163.18. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 7,500 shares of the stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $130.00, for a total transaction of $975,000.00. Following the sale, the chief financial officer directly owned 436,570 shares of the company’s stock, valued at approximately $56,754,100. The trade was a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,682,160 shares of company stock valued at $210,262,707. 27.91% of the stock is currently owned by insiders.

About Airbnb

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.