Brown Brothers Harriman & Co. Buys New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Brown Brothers Harriman & Co. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 531 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds have also made changes to their positions in ABNB. Pacer Advisors Inc. raised its stake in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Airbnb by 19,052.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after buying an additional 1,684,646 shares during the last quarter. Edgewood Management LLC lifted its stake in shares of Airbnb by 9.2% during the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock valued at $1,722,388,000 after buying an additional 1,143,464 shares during the period. International Assets Investment Management LLC boosted its position in Airbnb by 19,430.3% during the third quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after acquiring an additional 1,113,747 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in Airbnb in the 2nd quarter worth approximately $60,240,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABNB has been the topic of a number of recent analyst reports. Sanford C. Bernstein reduced their price target on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday, November 8th. B. Riley dropped their price objective on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Wedbush increased their price objective on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America restated a “hold” rating and issued a $142.00 target price (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $138.97.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the transaction, the chief technology officer now directly owns 195,844 shares in the company, valued at approximately $23,501,280. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business’s 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. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 718,017 shares of company stock worth $91,842,052. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Trading Down 1.0 %

NASDAQ ABNB opened at $138.28 on Friday. The company has a market capitalization of $87.67 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company’s fifty day moving average price is $133.86 and its two-hundred day moving average price is $135.47.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same period in the previous year, the business posted $2.39 EPS. As a group, research analysts predict that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

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.