abrdn plc Purchases 23,428 Shares of Airbnb, Inc. (NASDAQ:ABNB)

abrdn plc boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 15.4% during the third quarter, Holdings Channel.com reports. The fund owned 175,182 shares of the company’s stock after acquiring an additional 23,428 shares during the period. abrdn plc’s holdings in Airbnb were worth $22,245,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in Airbnb in the 1st quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in shares of Airbnb in the 3rd quarter worth about $25,000. New Millennium Group LLC purchased a new position in Airbnb during the 2nd quarter valued at about $28,000. Cultivar Capital Inc. bought a new stake in Airbnb during the second quarter worth about $30,000. Finally, Heritage Wealth Advisors grew its holdings in Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the transaction, the director now directly owns 16,472 shares in the company, valued at approximately $2,259,958.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the transaction, the director now owns 16,472 shares in the company, valued at approximately $2,259,958.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 418,406 shares of company stock worth $51,885,773 over the last 90 days. Company insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen cut their price target on Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a report on Monday, October 7th. Jefferies Financial Group raised their price target on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Barclays cut their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Mizuho lowered their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $135.35.

Airbnb Stock Down 1.3 %

Shares of NASDAQ ABNB opened at $134.79 on Friday. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market capitalization of $86.48 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.83 and a beta of 1.17. The stock has a 50 day moving average price of $126.47 and a 200 day moving average price of $138.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts expect that Airbnb, Inc. will post 4.33 earnings per share for the current year.

About Airbnb

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.