Airbnb, Inc. $ABNB Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 6,623.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394,109 shares of the company’s stock after purchasing an additional 1,373,375 shares during the period. Van ECK Associates Corp’s holdings in Airbnb were worth $169,273,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in Airbnb in the third quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in Airbnb during the 3rd quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Airbnb by 55.5% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 311 shares of the company’s stock worth $38,000 after acquiring an additional 111 shares in the last quarter. Ameriflex Group Inc. boosted its stake in shares of Airbnb by 986.7% during the 3rd quarter. Ameriflex Group Inc. now owns 326 shares of the company’s stock valued at $40,000 after buying an additional 296 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Airbnb by 4,255.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the company’s stock worth $48,000 after purchasing an additional 383 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of Airbnb stock opened at $132.44 on Wednesday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $143.88. The firm has a market cap of $80.62 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.12. The firm’s 50-day simple moving average is $130.42 and its 200-day simple moving average is $126.64.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company posted $0.73 earnings per share. Airbnb’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABNB. Deutsche Bank Aktiengesellschaft raised shares of Airbnb from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Friday, February 13th. DA Davidson lowered their price objective on shares of Airbnb from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. TD Cowen upped their price target on shares of Airbnb from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 13th. Sanford C. Bernstein reduced their price objective on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Finally, Truist Financial increased their price objective on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $149.42.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $133.28, for a total value of $7,730,240.00. Following the completion of the sale, the director owned 460,015 shares in the company, valued at approximately $61,310,799.20. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Elinor Mertz sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were 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 approximately $54,343,900. This represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 449,488 shares of company stock valued at $58,706,854 in the last three months. Insiders own 27.83% of the company’s stock.

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.