Grove Bank & Trust Buys 4,610 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Grove Bank & Trust lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 28.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,758 shares of the company’s stock after purchasing an additional 4,610 shares during the period. Grove Bank & Trust’s holdings in Airbnb were worth $2,728,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Edgewood Management LLC increased its position in Airbnb by 9.2% in the third quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Geode Capital Management LLC boosted its stake in shares of Airbnb by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock valued at $1,189,635,000 after purchasing an additional 146,761 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares during the period. Legal & General Group Plc raised its stake in shares of Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after buying an additional 153,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after buying an additional 52,358 shares during the period. 80.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

ABNB has been the subject of a number of analyst reports. Wedbush lifted their target price on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group upped their price objective on Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Cantor Fitzgerald reissued an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research note on Monday, October 7th. Morgan Stanley boosted their target price on Airbnb from $115.00 to $125.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Finally, Truist Financial cut their price target on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $139.63.

Airbnb Stock Up 2.2 %

ABNB stock opened at $135.12 on Friday. The company has a market cap of $85.66 billion, a price-to-earnings ratio of 47.41, a P/E/G ratio of 1.63 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The business has a 50 day moving average price of $134.16 and a two-hundred day moving average price of $131.95. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the business posted $2.39 earnings per share. Analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the sale, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the transaction, the chief technology officer now owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,130,982 shares of company stock worth $150,523,585 in the last ninety days. Insiders own 27.83% of the company’s stock.

Airbnb 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.