West Family Investments Inc. Takes Position in Airbnb, Inc. $ABNB

West Family Investments Inc. acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, Holdings Channel reports. The fund acquired 6,148 shares of the company’s stock, valued at approximately $880,000.

A number of other institutional investors also recently modified their holdings of the company. Wedmont Private Capital raised its holdings in shares of Airbnb by 1.7% in the 2nd quarter. Wedmont Private Capital now owns 4,517 shares of the company’s stock worth $671,000 after acquiring an additional 75 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Airbnb by 1.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock worth $727,000 after purchasing an additional 76 shares during the last quarter. BOKF NA boosted its position in shares of Airbnb by 11.0% during the fourth quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after buying an additional 78 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Airbnb by 11.4% during the second quarter. Parkside Financial Bank & Trust now owns 800 shares of the company’s stock worth $114,000 after buying an additional 82 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Airbnb by 1.0% during the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after acquiring an additional 86 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Performance

ABNB traded down $7.40 on Tuesday, hitting $174.54. The company’s stock had a trading volume of 7,042,407 shares, compared to its average volume of 4,295,478. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $193.45. The firm has a market cap of $104.51 billion, a P/E ratio of 39.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $163.73 and its 200-day simple moving average is $144.53.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping 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 prior year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 16.3% on a year-over-year basis. Analysts forecast that Airbnb, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 13,615 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $187.27, for a total value of $2,549,681.05. Following the completion of the transaction, the insider directly owned 20,567 shares in the company, valued at approximately $3,851,582.09. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 20,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $173.61, for a total transaction of $3,472,200.00. Following the completion of the transaction, the chief executive officer directly owned 5,854 shares in the company, valued at approximately $1,016,312.94. The trade was a 77.36% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 2,288,689 shares of company stock valued at $374,988,733. Corporate insiders own 27.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ABNB shares. Jefferies Financial Group boosted their target price on Airbnb from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. B. Riley Financial reissued a “buy” rating on shares of Airbnb in a research report on Friday, August 7th. Barclays raised their target price on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Robert W. Baird boosted their price target on shares of Airbnb from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Benchmark raised their price objective on shares of Airbnb from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.10.

About Airbnb

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.