Tri Ri Asset Management Corp Acquires New Position in Airbnb, Inc. (NASDAQ:ABNB)

Tri Ri Asset Management Corp purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 50,092 shares of the company's stock, valued at approximately $6,352,000. Airbnb makes up approximately 3.2% of Tri Ri Asset Management Corp's holdings, making the stock its 10th biggest holding.

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

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the transaction, the insider now directly owns 164,850 shares of the company's stock, valued at approximately $21,466,767. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 787,926 shares of company stock worth $101,440,343 over the last 90 days. 27.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABNB shares. Benchmark reissued a "buy" rating and set a $155.00 target price on shares of Airbnb in a research note on Friday, November 8th. Susquehanna boosted their price objective on Airbnb from $130.00 to $160.00 and gave the company a "positive" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on Airbnb from $121.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Sanford C. Bernstein cut their price target on shares of Airbnb from $174.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 17th. Finally, Robert W. Baird lifted their price objective on shares of Airbnb from $120.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and an average price target of $138.94.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded down $6.52 on Friday, reaching $130.95. The company's stock had a trading volume of 5,256,445 shares, compared to its average volume of 4,519,373. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The stock has a market capitalization of $83.02 billion, a P/E ratio of 46.60, a PEG ratio of 1.93 and a beta of 1.13. The stock's 50-day moving average is $135.89 and its two-hundred day moving average is $134.95. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62.

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