VCI Wealth Management LLC Takes Position in Airbnb, Inc. $ABNB

VCI Wealth Management LLC purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 8,194 shares of the company’s stock, valued at approximately $995,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABNB. Vanguard Group Inc. raised its holdings in shares of Airbnb by 0.5% in the second quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock valued at $4,982,067,000 after buying an additional 183,336 shares during the last quarter. Harris Associates L P grew its holdings in shares of Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after buying an additional 4,292,383 shares during the last quarter. Geode Capital Management LLC increased its position in Airbnb by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after acquiring an additional 145,788 shares during the period. AQR Capital Management LLC raised its stake in Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after acquiring an additional 1,916,676 shares during the last quarter. Finally, Norges Bank purchased a new stake in Airbnb during the 2nd quarter valued at approximately $483,644,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the sale, the chief executive officer owned 45,854 shares in the company, valued at $6,014,210.64. This represents a 52.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at $1,404,979.20. The trade was a 92.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,754,606 shares of company stock worth $214,342,160. 27.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on ABNB shares. Wedbush lifted their target price on Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Jefferies Financial Group increased their price target on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, December 5th. KeyCorp began coverage on shares of Airbnb in a research report on Thursday, October 23rd. They issued a “sector weight” rating on the stock. Wells Fargo & Company boosted their price objective on shares of Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $144.48.

Airbnb Stock Performance

Airbnb stock opened at $136.61 on Friday. The company has a market cap of $84.09 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 2.41 and a beta of 1.11. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The business has a fifty day moving average of $124.51 and a two-hundred day moving average of $127.59.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the business earned $2.13 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.