2,306,675 Shares in Airbnb, Inc. $ABNB Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,306,675 shares of the company’s stock, valued at approximately $330,085,000.

A number of other large investors also recently bought and sold shares of the stock. Harris Associates L P boosted its holdings in shares of Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Norges Bank purchased a new position in Airbnb in the fourth quarter worth approximately $480,332,000. Jennison Associates LLC lifted its stake in shares of Airbnb by 9,331.0% in the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after purchasing an additional 3,139,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after purchasing an additional 2,724,682 shares during the period. Finally, SRS Investment Management LLC acquired a new stake in shares of Airbnb during the 4th quarter worth about $342,017,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on ABNB. Evercore reissued an “outperform” rating and set a $190.00 target price on shares of Airbnb in a research note on Friday, August 7th. DA Davidson upped their price objective on shares of Airbnb from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Susquehanna increased their price target on shares of Airbnb from $170.00 to $200.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Barclays upped their price target on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Piper Sandler set a $150.00 price target on Airbnb in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $172.00.

Airbnb Price Performance

ABNB opened at $187.30 on Friday. The company has a 50 day moving average of $154.16 and a two-hundred day moving average of $139.50. The company has a market cap of $112.15 billion, a P/E ratio of 42.57, a P/E/G ratio of 2.14 and a beta of 1.14. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $189.20. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, analysts expect that Airbnb, Inc. will post 5.22 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 294,903 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total value of $35,136,936.12. Following the transaction, the chief executive officer directly owned 11,206,389 shares of the company’s stock, valued at approximately $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,124,289 shares of company stock valued at $461,988,389 over the last 90 days. 27.21% of the stock is owned by company insiders.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.