Madison Asset Management LLC Buys 142,583 Shares of Airbnb, Inc. $ABNB

Madison Asset Management LLC increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 55.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 401,679 shares of the company’s stock after acquiring an additional 142,583 shares during the period. Madison Asset Management LLC’s holdings in Airbnb were worth $48,772,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Concord Wealth Partners acquired a new position in Airbnb during the second quarter worth $28,000. Whipplewood Advisors LLC increased its stake in shares of Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after purchasing an additional 160 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Airbnb in the 3rd quarter valued at about $32,000. NewSquare Capital LLC grew its holdings in Airbnb by 86.4% during the second quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock worth $38,000 after purchasing an additional 133 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Airbnb by 55.5% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 311 shares of the company’s stock worth $38,000 after buying an additional 111 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ:ABNB opened at $120.32 on Wednesday. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm’s 50-day simple moving average is $131.42 and its 200 day simple moving average is $126.52. The firm has a market cap of $74.06 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.87 and a beta of 1.15.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a report on Wednesday, January 21st. Barclays set a $120.00 price objective on shares of Airbnb and gave the company an “equal weight” rating in a research report on Friday, January 9th. Wells Fargo & Company set a $128.00 target price on shares of Airbnb and gave the stock an “equal weight” rating in a report on Friday, January 9th. Finally, Mizuho set a $156.00 price target on shares of Airbnb in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $148.85.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 232,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $114.22, for a total value of $26,499,040.00. Following the completion of the sale, the director directly owned 15 shares in the company, valued at approximately $1,713.30. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 51,230 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the transaction, the chief executive officer owned 45,854 shares in the company, valued at approximately $6,014,210.64. This trade represents a 52.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 970,022 shares of company stock valued at $120,106,336. 27.83% of the stock is currently owned by company insiders.

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.