North Star Asset Management Inc. Acquires 13,155 Shares of Airbnb, Inc. (NASDAQ:ABNB)

North Star Asset Management Inc. boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 53.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,938 shares of the company’s stock after acquiring an additional 13,155 shares during the quarter. North Star Asset Management Inc.’s holdings in Airbnb were worth $5,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York Life Investment Management LLC raised its position in Airbnb by 2.3% in the 2nd quarter. New York Life Investment Management LLC now owns 67,449 shares of the company’s stock worth $10,227,000 after purchasing an additional 1,520 shares during the period. Blue Barn Wealth LLC raised its holdings in shares of Airbnb by 4.7% in the second quarter. Blue Barn Wealth LLC now owns 2,329 shares of the company’s stock worth $353,000 after buying an additional 104 shares during the period. Arizona State Retirement System lifted its stake in shares of Airbnb by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 128,135 shares of the company’s stock worth $19,429,000 after acquiring an additional 2,892 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Airbnb by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 509,168 shares of the company’s stock valued at $77,205,000 after acquiring an additional 43,655 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Airbnb by 63.1% during the 2nd quarter. National Bank of Canada FI now owns 205,607 shares of the company’s stock valued at $31,161,000 after acquiring an additional 79,573 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of Airbnb stock opened at $114.28 on Friday. 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 business’s 50 day moving average price is $131.77 and its 200 day moving average price is $147.03. The company has a market cap of $73.60 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.55 and a beta of 1.16. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) 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 analysts’ expectations of $2.74 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts predict that Airbnb, Inc. will post 4.43 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABNB. Benchmark reissued a “buy” rating and set a $155.00 target price on shares of Airbnb in a research note on Monday, August 26th. Robert W. Baird dropped their target price on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their price target on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on Airbnb in a research note on Thursday. They issued an “underweight” rating and a $94.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $134.48.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction on Monday, June 10th. The stock was sold at an average price of $147.25, for a total value of $16,990,441.25. Following the completion of the transaction, the chief executive officer now directly owns 14,145,072 shares in the company, valued at $2,082,861,852. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $147.25, for a total value of $16,990,441.25. Following the sale, the chief executive officer now owns 14,145,072 shares of the company’s stock, valued at $2,082,861,852. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. The disclosure for this sale can be found here. Insiders sold 612,907 shares of company stock valued at $91,473,471 in the last 90 days. 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.