Airbnb, Inc. $ABNB Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 469,527 shares of the company’s stock after purchasing an additional 17,595 shares during the quarter. ProShare Advisors LLC owned about 0.08% of Airbnb worth $75,430,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ABNB. Meeder Asset Management Inc. grew its holdings in Airbnb by 96.3% during the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Main Street Group LTD purchased a new position in shares of Airbnb in the first quarter worth $29,000. Western Wealth Management LLC purchased a new position in shares of Airbnb in the first quarter worth $34,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of Airbnb during the third quarter worth $35,000. Finally, Global Assets Advisory LLC bought a new position in shares of Airbnb during the first quarter worth $38,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Price Performance

NASDAQ:ABNB opened at $164.39 on Monday. The firm has a market capitalization of $98.44 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $170.39 and a 200-day simple moving average of $146.67. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $193.45.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. Equities analysts forecast that Airbnb, Inc. will post 5.29 EPS for the current year.

Insider Buying and Selling at Airbnb

In other news, insider Nathan Blecharczyk sold 531,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the sale, the insider owned 171,370 shares of the company’s stock, valued at approximately $29,888,641.70. This represents a 75.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 200,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the completion of the sale, the chief executive officer owned 10,501,685 shares of the company’s stock, valued at $1,835,589,521.15. This trade represents a 1.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,281,967 shares of company stock valued at $230,470,521 over the last ninety days. 27.21% of the stock is owned by insiders.

Analyst Ratings Changes

ABNB has been the subject of several research analyst reports. Gordon Haskett raised their target price on shares of Airbnb from $146.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, September 10th. B. Riley Financial reiterated a “buy” rating and issued a $210.00 price target (up from $180.00) on shares of Airbnb in a research note on Friday, August 7th. Raymond James Financial upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Tuesday, September 8th. Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a report on Monday, October 12th. Finally, Truist Financial raised their price objective on Airbnb from $134.00 to $161.00 and gave the company a “hold” rating in a research report on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.43.

Key Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
• Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
• Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
• Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.