Grove Bank & Trust Purchases 103 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Grove Bank & Trust boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,148 shares of the company’s stock after purchasing an additional 103 shares during the quarter. Grove Bank & Trust’s holdings in Airbnb were worth $2,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of Airbnb by 57.9% in the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Airbnb by 158.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after acquiring an additional 3,558,178 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after purchasing an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC bought a new position in shares of Airbnb in the first quarter worth $265,292,000. Finally, Swedbank AB acquired a new position in Airbnb in the first quarter valued at about $175,496,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 80,000 shares of Airbnb stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the transaction, the chief technology officer now directly owns 207,574 shares of the company’s stock, valued at $30,951,359.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 80,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total value of $11,928,800.00. Following the completion of the transaction, the chief technology officer now owns 207,574 shares in the company, valued at $30,951,359.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $148.47, for a total value of $89,082.00. Following the sale, the chief technology officer now directly owns 207,574 shares of the company’s stock, valued at approximately $30,818,511.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 562,496 shares of company stock worth $74,116,934. 27.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABNB shares. UBS Group decreased their price objective on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Argus cut Airbnb from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Mizuho reduced their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. dropped their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Susquehanna decreased their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.55.

Airbnb Stock Up 0.2 %

Shares of Airbnb stock traded up $0.26 during trading hours on Monday, reaching $134.66. The company’s stock had a trading volume of 837,813 shares, compared to its average volume of 4,464,663. 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’s fifty day simple moving average is $121.62 and its two-hundred day simple moving average is $140.77. The company has a market capitalization of $86.73 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. Airbnb’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, research analysts forecast that Airbnb, Inc. will post 4.33 earnings per share for the current year.

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.