Transcend Capital Advisors LLC Boosts Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Transcend Capital Advisors LLC raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 206.8% during the second quarter, HoldingsChannel.com reports. The firm owned 9,077 shares of the company’s stock after buying an additional 6,118 shares during the period. Transcend Capital Advisors LLC’s holdings in Airbnb were worth $1,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Airbnb in the first quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in Airbnb in the 4th quarter worth $27,000. Bfsg LLC acquired a new position in Airbnb during the fourth quarter worth $27,000. Westend Capital Management LLC acquired a new position in Airbnb during the first quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Airbnb during the first quarter valued at $33,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Trading Down 2.9 %

NASDAQ:ABNB traded down $3.77 on Monday, reaching $124.46. 3,264,635 shares of the company’s stock were exchanged, compared to its average volume of 4,341,646. The firm has a market capitalization of $80.16 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18. Airbnb, Inc. has a 52-week low of $113.24 and a 52-week high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $147.05 and a 200-day moving average of $152.30.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, analysts expect that Airbnb, Inc. will post 4.66 earnings per share for the current year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total transaction of $97,200.00. Following the sale, the chief technology officer now owns 219,904 shares of the company’s stock, valued at approximately $35,624,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO David C. Bernstein sold 2,000 shares of Airbnb stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $145.50, for a total transaction of $291,000.00. Following the sale, the chief accounting officer now owns 45,043 shares in the company, valued at $6,553,756.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total value of $97,200.00. Following the completion of the sale, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at $35,624,448. The disclosure for this sale can be found here. Insiders have sold 735,492 shares of company stock valued at $109,423,324 over the last quarter. 27.83% of the stock is owned by insiders.

Analysts Set New Price Targets

ABNB has been the subject of a number of research reports. Piper Sandler reissued a “neutral” rating and set a $155.00 target price (up previously from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. Truist Financial increased their target price on Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a report on Thursday, May 30th. TD Cowen lowered their price target on Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Piper Sandler Companies raised their price objective on Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, Citigroup lowered their target price on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $153.58.

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.