Sit Investment Associates Inc. Buys 1,010 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Sit Investment Associates Inc. boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNBGet Rating) by 27.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,660 shares of the company’s stock after buying an additional 1,010 shares during the quarter. Sit Investment Associates Inc.’s holdings in Airbnb were worth $800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new position in Airbnb during the 1st quarter valued at about $1,988,000. First Foundation Advisors increased its position in Airbnb by 19.5% during the 1st quarter. First Foundation Advisors now owns 2,842 shares of the company’s stock valued at $488,000 after purchasing an additional 464 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Airbnb by 22.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,499 shares of the company’s stock worth $3,177,000 after buying an additional 3,350 shares during the last quarter. YorkBridge Wealth Partners LLC grew its position in shares of Airbnb by 34.2% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 28,758 shares of the company’s stock worth $4,939,000 after buying an additional 7,334 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Airbnb by 58.1% in the 1st quarter. Toronto Dominion Bank now owns 70,616 shares of the company’s stock worth $12,128,000 after buying an additional 25,960 shares during the last quarter. Institutional investors own 39.45% of the company’s stock.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $112.56 on Wednesday. The firm has a market cap of $73.02 billion, a PE ratio of 61.51 and a beta of 1.22. The firm has a fifty day moving average of $106.99 and a 200 day moving average of $131.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.58. Airbnb, Inc. has a one year low of $86.71 and a one year high of $212.58.

Airbnb (NASDAQ:ABNBGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. Airbnb had a net margin of 16.91% and a return on equity of 26.03%. During the same period last year, the firm posted ($0.11) earnings per share. As a group, research analysts predict that Airbnb, Inc. will post 2.24 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, insider Catherine C. Powell sold 5,055 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $110.48, for a total transaction of $558,476.40. Following the completion of the sale, the insider now owns 114,107 shares of the company’s stock, valued at $12,606,541.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph Gebbia sold 250,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $100.28, for a total value of $25,070,000.00. Following the completion of the sale, the insider now owns 3,438,742 shares of the company’s stock, valued at $344,837,047.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Catherine C. Powell sold 5,055 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $110.48, for a total transaction of $558,476.40. Following the completion of the sale, the insider now directly owns 114,107 shares of the company’s stock, valued at approximately $12,606,541.36. The disclosure for this sale can be found here. Insiders sold 805,103 shares of company stock valued at $86,085,111 over the last 90 days. 32.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ABNB shares. Piper Sandler cut their price objective on shares of Airbnb from $174.00 to $121.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 3rd. Truist Financial cut their price objective on shares of Airbnb from $160.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, July 14th. UBS Group cut their price objective on shares of Airbnb from $185.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, August 1st. Argus initiated coverage on shares of Airbnb in a research report on Tuesday, July 26th. They issued a “hold” rating on the stock. Finally, Morgan Stanley boosted their target price on shares of Airbnb from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.15.

Airbnb Company Profile

(Get Rating)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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