Geode Capital Management LLC Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Geode Capital Management LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,399,568 shares of the company's stock after purchasing an additional 146,761 shares during the quarter. Geode Capital Management LLC owned 1.46% of Airbnb worth $1,189,635,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABNB. Northwest Investment Counselors LLC acquired a new stake in Airbnb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management boosted its holdings in Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company's stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. New Millennium Group LLC purchased a new stake in Airbnb in the second quarter valued at $28,000. Cultivar Capital Inc. acquired a new stake in Airbnb during the 2nd quarter worth about $30,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Airbnb during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the sale, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This represents a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the company's 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 sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 787,926 shares of company stock valued at $101,440,343. Company insiders own 27.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen raised their target price on Airbnb from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Airbnb from $121.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Susquehanna boosted their target price on shares of Airbnb from $130.00 to $160.00 and gave the company a "positive" rating in a research note on Monday, November 11th. DA Davidson raised their price target on shares of Airbnb from $125.00 to $131.00 and gave the company a "neutral" rating in a research report on Monday, November 18th. Finally, Sanford C. Bernstein decreased their price objective on shares of Airbnb from $174.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and an average target price of $138.94.

Airbnb Trading Up 0.4 %

Shares of ABNB stock traded up $0.54 during trading on Wednesday, hitting $138.84. 4,096,020 shares of the stock traded hands, compared to its average volume of 4,517,472. The firm has a market capitalization of $88.02 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The firm's fifty day moving average price is $135.39 and its 200-day moving average price is $134.90.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS 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 business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company earned $2.39 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 3.99 earnings per share for the current fiscal year.

About Airbnb

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.