Frank Rimerman Advisors LLC Grows Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Frank Rimerman Advisors LLC increased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 696.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,982 shares of the company’s stock after buying an additional 1,733 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Airbnb were worth $301,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ABNB. Profund Advisors LLC grew its position in shares of Airbnb by 10.2% during the 2nd quarter. Profund Advisors LLC now owns 65,788 shares of the company’s stock valued at $9,975,000 after acquiring an additional 6,110 shares during the period. Symmetry Investments LP lifted its position in Airbnb by 262.6% during the second quarter. Symmetry Investments LP now owns 79,387 shares of the company’s stock valued at $12,037,000 after purchasing an additional 57,493 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Airbnb by 0.7% during the second quarter. Ameritas Investment Partners Inc. now owns 17,533 shares of the company’s stock valued at $2,659,000 after purchasing an additional 125 shares during the period. Thrivent Financial for Lutherans increased its position in Airbnb by 11.1% in the second quarter. Thrivent Financial for Lutherans now owns 19,729 shares of the company’s stock worth $2,992,000 after buying an additional 1,969 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Airbnb by 3.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 91,207 shares of the company’s stock worth $13,830,000 after buying an additional 3,307 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of Airbnb stock opened at $131.48 on Wednesday. The stock has a market cap of $84.68 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50 day moving average price of $124.84 and a 200-day moving average price of $144.01. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data 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 return on equity of 34.74% and a net margin of 46.11%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts expect that Airbnb, Inc. will post 4.39 EPS for the current year.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley upped their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Susquehanna lowered their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird cut their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and an average target price of $134.17.

Insider Buying and Selling

In related 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 value 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief financial officer now owns 537,072 shares in the company, valued at approximately $64,448,640. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,024 shares of company stock valued at $77,491,165. Company insiders own 27.83% of the company’s stock.

Airbnb 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.