Richardson Financial Services Inc. Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

Richardson Financial Services Inc. increased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 77.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 629 shares of the company’s stock after purchasing an additional 274 shares during the period. Richardson Financial Services Inc.’s holdings in Airbnb were worth $95,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABNB. CHURCHILL MANAGEMENT Corp purchased a new position in Airbnb during the first quarter worth approximately $7,628,000. Rafferty Asset Management LLC raised its position in shares of Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after buying an additional 22,551 shares during the period. SteelPeak Wealth LLC boosted its holdings in Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after acquiring an additional 985 shares during the last quarter. ProShare Advisors LLC grew its position in Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after acquiring an additional 83,383 shares during the period. Finally, State of Tennessee Treasury Department grew its position in Airbnb by 35.8% during the fourth quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock valued at $19,503,000 after acquiring an additional 37,785 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 5.2 %

Shares of Airbnb stock opened at $128.75 on Friday. The business has a 50-day moving average price of $126.26 and a 200 day moving average price of $145.03. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The firm has a market cap of $82.92 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results 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 firm had revenue of $2.75 billion during 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%. Airbnb’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, CFO Elinor Mertz sold 6,250 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 $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares in the company, valued at approximately $64,448,640. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the sale, the chief financial officer now owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the transaction, the chief accounting officer now owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The disclosure for this sale can be found here. Insiders sold a total of 685,451 shares of company stock worth $95,552,289 over the last 90 days. Insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Wedbush decreased their price objective on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Piper Sandler cut their target price on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. UBS Group decreased their price target on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.