Assetmark Inc. Boosts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Assetmark Inc. grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,994 shares of the company's stock after purchasing an additional 5,189 shares during the quarter. Assetmark Inc.'s holdings in Airbnb were worth $6,340,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Farrow Financial Inc. lifted its stake in Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company's stock valued at $1,087,000 after buying an additional 69 shares in the last quarter. Heritage Wealth Advisors lifted its position in Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company's stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. GYL Financial Synergies LLC boosted its holdings in shares of Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company's stock worth $241,000 after buying an additional 76 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Airbnb by 1.6% in the second quarter. HB Wealth Management LLC now owns 4,938 shares of the company's stock valued at $749,000 after purchasing an additional 76 shares in the last quarter. Finally, Optas LLC boosted its holdings in shares of Airbnb by 4.5% in the 2nd quarter. Optas LLC now owns 1,829 shares of the company's stock worth $277,000 after purchasing an additional 78 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABNB. Citigroup boosted their target price on shares of Airbnb from $135.00 to $158.00 and gave the company a "buy" rating in a research report on Monday. Benchmark reissued a "buy" rating and issued a $155.00 price target on shares of Airbnb in a research note on Friday. Susquehanna boosted their price objective on Airbnb from $130.00 to $160.00 and gave the company a "positive" rating in a research note on Monday. Robert W. Baird boosted their price target on Airbnb from $120.00 to $140.00 and gave the company a "neutral" rating in a report on Friday. Finally, TD Cowen lifted their target price on Airbnb from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday. Six investment 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $139.31.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 230,769 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares of the company's stock, valued at approximately $1,597,909,440. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares of the company's stock, valued at approximately $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,806 shares of company stock valued at $51,809,831. Corporate insiders own 27.83% of the company's stock.

Airbnb Price Performance

NASDAQ ABNB traded down $4.20 on Tuesday, reaching $133.20. The company's stock had a trading volume of 6,897,172 shares, compared to its average volume of 4,511,070. The firm's 50 day moving average is $129.54 and its two-hundred day moving average is $137.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The stock has a market cap of $85.46 billion, a PE ratio of 46.91, a PEG ratio of 1.90 and a beta of 1.15.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 33.36% and a net margin of 16.96%. During the same period last year, the firm earned $2.39 earnings per share. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.07 EPS 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.