D.A. Davidson & CO. Grows Position in Airbnb, Inc. (NASDAQ:ABNB)

D.A. Davidson & CO. grew its stake in Airbnb, Inc. (NASDAQ:ABNB) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,575 shares of the company’s stock after purchasing an additional 650 shares during the period. D.A. Davidson & CO.’s holdings in Airbnb were worth $4,004,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Edgewood Management LLC boosted its position in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares during the period. Legal & General Group Plc raised its stake in shares of Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after buying an additional 153,784 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Airbnb by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after buying an additional 52,358 shares during the period. Finally, MKA Charitable Fund raised its stake in shares of Airbnb by 17.2% during the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after buying an additional 296,153 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of Airbnb stock opened at $138.28 on Friday. The business has a 50-day moving average of $133.86 and a 200 day moving average of $135.47. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a market capitalization of $87.67 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15. 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) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $2.39 earnings per share. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Airbnb in a research note on Friday, November 8th. Robert W. Baird upped their target price on Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. DA Davidson upped their target price on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Raymond James started coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 target price for the company. Finally, Wells Fargo & Company increased their price objective on Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a research note on Tuesday, October 8th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $138.97.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 76,923 shares of Airbnb stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the completion of the transaction, the chief executive officer now owns 12,616,300 shares in the company, valued at approximately $1,765,525,022. This trade represents a 0.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the transaction, the chief technology officer now owns 195,844 shares of the company’s stock, valued at $23,501,280. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 718,017 shares of company stock worth $91,842,052 in the last three months. 27.83% of the stock is owned by company insiders.

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.