Eastern Bank Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Eastern Bank bought a new position in Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 830 shares of the company’s stock, valued at approximately $105,000.

A number of other institutional investors have also recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC acquired a new stake in Airbnb in the first quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Airbnb in the third quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in Airbnb in the second quarter worth approximately $28,000. Cultivar Capital Inc. acquired a new stake in Airbnb in the second quarter worth approximately $30,000. Finally, Heritage Wealth Advisors lifted its position in shares of Airbnb by 55.0% during the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABNB has been the subject of a number of recent research reports. Barclays cut their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. 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 report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Argus downgraded Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research report on Monday, August 26th. Five 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.35.

Airbnb Trading Up 1.4 %

Shares of NASDAQ:ABNB opened at $134.58 on Friday. The company has a market cap of $86.68 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.83 and a beta of 1.17. The stock’s 50-day moving average is $124.97 and its 200-day moving average is $139.19. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. 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 released its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share 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 company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that Airbnb, Inc. will post 4.33 earnings per share for the current year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $136.11, for a total value of $81,666.00. Following the completion of the sale, the chief technology officer now owns 192,844 shares in the company, valued at approximately $26,247,996.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Airbnb 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 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 $64,448,640. This trade 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 available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $136.11, for a total transaction of $81,666.00. Following the transaction, the chief technology officer now owns 192,844 shares of the company’s stock, valued at approximately $26,247,996.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 406,171 shares of company stock worth $50,208,253. Company insiders own 27.83% of the company’s stock.

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.