Pacer Advisors Inc. Buys 75,516 Shares of Airbnb, Inc. $ABNB

Pacer Advisors Inc. raised its stake in Airbnb, Inc. (NASDAQ:ABNB) by 3.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,503,666 shares of the company’s stock after acquiring an additional 75,516 shares during the period. Pacer Advisors Inc.’s holdings in Airbnb were worth $303,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kentucky Trust Co acquired a new position in shares of Airbnb during the second quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its position in Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners bought a new position in Airbnb during the second quarter valued at about $28,000. Whipplewood Advisors LLC raised its holdings in Airbnb by 235.3% in the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after acquiring an additional 160 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its holdings in Airbnb by 363.6% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Elinor Mertz sold 7,500 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $130.00, for a total transaction of $975,000.00. Following the transaction, the chief financial officer owned 418,030 shares of the company’s stock, valued at $54,343,900. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $130.56, for a total value of $7,572,480.00. Following the completion of the transaction, the director owned 634,015 shares in the company, valued at approximately $82,776,998.40. This represents a 8.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,754,606 shares of company stock worth $214,342,160. 27.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABNB. BNP Paribas Exane initiated coverage on Airbnb in a report on Monday, November 24th. They set a “neutral” rating on the stock. Mizuho set a $156.00 price target on shares of Airbnb in a research note on Friday, November 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $165.00 price target on shares of Airbnb in a report on Friday, November 7th. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. Finally, KeyCorp started coverage on shares of Airbnb in a research report on Thursday, October 23rd. They set a “sector weight” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $144.48.

Airbnb Trading Up 0.1%

Shares of ABNB stock opened at $136.61 on Friday. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm’s 50 day moving average is $124.51 and its 200-day moving average is $127.59. The firm has a market capitalization of $84.09 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.41 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results 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). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business earned $2.13 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.