Perpetual Ltd Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Perpetual Ltd purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the third quarter, Holdings Channel reports. The institutional investor purchased 11,122 shares of the company’s stock, valued at approximately $1,410,000.

A number of other institutional investors have also recently bought and sold shares of ABNB. Joel Isaacson & Co. LLC lifted its position in shares of Airbnb by 2.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after buying an additional 67 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after buying an additional 68 shares during the last quarter. Farrow Financial Inc. lifted its position in shares of Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after buying an additional 69 shares during the last quarter. Heritage Wealth Advisors lifted its position in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after buying an additional 71 shares during the last quarter. Finally, GYL Financial Synergies LLC lifted its position in shares of Airbnb by 5.0% in the second 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. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $145.88, for a total value of $145,880.00. Following the transaction, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 563,496 shares of company stock valued at $74,262,814 in the last three months. 27.83% of the stock is owned by corporate insiders.

Airbnb Trading Up 1.2 %

ABNB stock opened at $134.40 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market cap of $86.23 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.83 and a beta of 1.17. The business’s 50 day moving average is $121.62 and its 200-day moving average is $141.13. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABNB. Mizuho reduced their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Piper Sandler dropped their price objective on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Bank of America reiterated a “hold” rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a research note on Friday. Royal Bank of Canada dropped their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays dropped their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a research note 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $134.55.

Airbnb Company 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.