Infusive Asset Management Inc. Makes New Investment in Airbnb, Inc. (NASDAQ:ABNB)

Infusive Asset Management Inc. purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,950 shares of the company’s stock, valued at approximately $1,769,000.

Other institutional investors have also recently made changes to their positions in the company. Crawford Fund Management LLC bought a new stake in Airbnb during the third quarter valued at $3,012,000. Public Sector Pension Investment Board raised its holdings in shares of Airbnb by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 18,919 shares of the company’s stock valued at $2,399,000 after acquiring an additional 2,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Airbnb by 3.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock valued at $299,272,000 after acquiring an additional 80,610 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Airbnb during the third quarter worth about $326,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Airbnb in the third quarter worth approximately $41,687,000. Institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BMO Capital Markets dropped their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Mizuho dropped their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. B. Riley cut their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Wedbush raised their price target on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $138.97.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total value of $28,088,477.80. Following the completion of the sale, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. This represents a 95.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 718,017 shares of company stock worth $91,842,052. Corporate insiders own 27.83% of the company’s stock.

Airbnb Trading Down 1.0 %

NASDAQ:ABNB opened at $138.28 on Friday. The company has a 50-day moving average price of $133.86 and a 200-day moving average price of $135.47. The stock has a market cap of $87.67 billion, a price-to-earnings ratio of 48.52, a P/E/G ratio of 2.00 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter last year, the business earned $2.39 earnings per share. Equities analysts predict that Airbnb, Inc. will post 4.02 EPS for the current 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.