BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Airbnb, Inc. (NASDAQ:ABNB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 62.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,655 shares of the company’s stock after purchasing an additional 32,383 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Airbnb were worth $12,836,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Commerce Bank grew its stake in Airbnb by 20.6% in the 4th quarter. Commerce Bank now owns 21,055 shares of the company’s stock worth $2,866,000 after acquiring an additional 3,595 shares in the last quarter. SageView Advisory Group LLC bought a new position in Airbnb in the fourth quarter worth approximately $421,000. Congress Wealth Management LLC DE purchased a new position in Airbnb during the 4th quarter worth $436,000. United Services Automobile Association raised its position in Airbnb by 11.7% during the 4th quarter. United Services Automobile Association now owns 12,796 shares of the company’s stock valued at $1,742,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Airbnb in the 4th quarter worth $218,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $131.48 on Wednesday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The business’s 50 day moving average price is $124.84 and its 200 day moving average price is $144.01. 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 firm has a market cap of $84.68 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.54 and a beta of 1.16.

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

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $150.02, for a total value of $1,745,482.70. Following the sale, the director now owns 30,435 shares in the company, valued at $4,565,858.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $150.02, for a total value of $1,745,482.70. Following the completion of the transaction, the director now owns 30,435 shares of the company’s stock, valued at approximately $4,565,858.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 564,024 shares of company stock worth $77,491,165. Insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ABNB shares. Wedbush cut their price target on Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Susquehanna reduced their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Mizuho dropped their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. Wells Fargo & Company cut their price objective on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $134.17.

Airbnb Company 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.