Airbnb, Inc. (NASDAQ:ABNB) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 67.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,266 shares of the company’s stock after purchasing an additional 23,132 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Airbnb were worth $7,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in shares of Airbnb by 60.5% during the 3rd quarter. Whittier Trust Co. now owns 139,671 shares of the company’s stock worth $17,711,000 after purchasing an additional 52,638 shares during the period. Northwest Investment Counselors LLC purchased a new position in Airbnb in the third quarter valued at $25,000. Everence Capital Management Inc. raised its position in shares of Airbnb by 59.1% in the third quarter. Everence Capital Management Inc. now owns 7,780 shares of the company’s stock worth $987,000 after acquiring an additional 2,890 shares during the period. Trilogy Capital Inc. acquired a new stake in shares of Airbnb during the 3rd quarter valued at about $1,467,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in Airbnb in the 3rd quarter worth about $134,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

NASDAQ:ABNB traded up $0.58 during midday trading on Monday, reaching $137.03. The stock had a trading volume of 1,976,744 shares, compared to its average volume of 4,437,710. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $88.25 billion, a P/E ratio of 18.33, a PEG ratio of 1.83 and a beta of 1.17. The firm’s fifty day simple moving average is $123.17 and its 200-day simple moving average is $139.81.

Airbnb (NASDAQ:ABNB) last released its 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 for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. On average, equities research analysts forecast that Airbnb, Inc. will post 4.33 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on 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 owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CEO Brian Chesky sold 230,769 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 $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. 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, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at approximately $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 405,571 shares of company stock worth $50,126,587. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABNB. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. TD Cowen decreased their price target on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Monday, August 26th. Susquehanna lowered their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Finally, Bank of America reiterated a “hold” rating and set a $142.00 target price (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $134.55.

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.