Envestnet Asset Management Inc. Purchases 89,978 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Envestnet Asset Management Inc. raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 10.8% during the second quarter, Holdings Channel reports. The fund owned 920,842 shares of the company’s stock after acquiring an additional 89,978 shares during the period. Envestnet Asset Management Inc.’s holdings in Airbnb were worth $139,627,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Airbnb during the 4th quarter valued at about $619,584,000. Jennison Associates LLC grew its position in Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD grew its position in Airbnb by 158.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after buying an additional 3,558,178 shares during the period. Edgewood Management LLC raised its position in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $117.55 on Tuesday. The firm has a fifty day simple moving average of $127.46 and a two-hundred day simple moving average of $145.45. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $75.71 billion, a P/E ratio of 15.74, a PEG ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. On average, analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $148.68, for a total value of $17,155,441.80. Following the transaction, the chief executive officer now owns 14,029,687 shares of the company’s stock, valued at approximately $2,085,933,863.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $148.68, for a total transaction of $17,155,441.80. Following the completion of the sale, the chief executive officer now owns 14,029,687 shares of the company’s stock, valued at $2,085,933,863.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 1,500 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the transaction, the director now directly owns 42,087 shares in the company, valued at approximately $6,313,050. The disclosure for this sale can be found here. Insiders have sold 449,332 shares of company stock valued at $67,263,009 in the last ninety days. 27.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wedbush reduced their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Monday, August 26th. Barclays reduced their target price on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Finally, Robert W. Baird lowered their price target on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $133.45.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.