Verde Capital Management Purchases 1,170 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Verde Capital Management raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 7.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,849 shares of the company’s stock after purchasing an additional 1,170 shares during the quarter. Airbnb accounts for about 0.6% of Verde Capital Management’s holdings, making the stock its 27th biggest holding. Verde Capital Management’s holdings in Airbnb were worth $2,137,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Airbnb by 57.9% in the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after buying an additional 3,899,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 purchasing an additional 3,558,178 shares during the period. Assenagon Asset Management S.A. raised its holdings in Airbnb by 19,052.8% in 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 purchased a new stake in shares of Airbnb in the 1st quarter worth about $265,292,000. Finally, Swedbank AB bought a new stake in shares of Airbnb during the 1st quarter valued at about $175,496,000. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was 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 through the SEC website. Also, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $149.11, for a total transaction of $17,205,057.35. Following the completion of the transaction, the chief executive officer now owns 13,798,917 shares of the company’s stock, valued at approximately $2,057,556,513.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 600,956 shares of company stock valued at $79,260,444. 27.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Robert W. Baird reduced their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price objective on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a research report on Monday, October 7th. Finally, Barclays lowered their price target on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $134.55.

Airbnb Price Performance

NASDAQ ABNB opened at $136.45 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $87.88 billion, a P/E ratio of 18.27, a PEG ratio of 1.83 and a beta of 1.17. The company has a 50-day moving average price of $123.17 and a 200-day moving average price of $139.94. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

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

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.