Greenland Capital Management LP Invests $1.38 Million in Airbnb, Inc. $ABNB

Greenland Capital Management LP bought a new stake in Airbnb, Inc. (NASDAQ:ABNBFree Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 11,323 shares of the company’s stock, valued at approximately $1,375,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Airbnb by 1.7% during the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after purchasing an additional 649,323 shares during the last quarter. Harris Associates L P boosted its position in shares of Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Geode Capital Management LLC boosted its position in shares of Airbnb by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after purchasing an additional 145,788 shares during the period. Norges Bank purchased a new position in Airbnb during the 2nd quarter worth approximately $483,644,000. Finally, Akre Capital Management LLC grew its stake in Airbnb by 19.0% during the 2nd quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock worth $459,649,000 after buying an additional 555,510 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

Shares of Airbnb stock opened at $122.96 on Tuesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $147.07. The company has a market cap of $74.85 billion, a P/E ratio of 30.44, a PEG ratio of 1.73 and a beta of 1.15. The firm has a fifty day moving average of $130.91 and a two-hundred day moving average of $125.94.

Airbnb (NASDAQ:ABNBGet Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.10). The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $131.16, for a total transaction of $6,719,326.80. Following the transaction, the chief executive officer owned 45,854 shares of the company’s stock, valued at $6,014,210.64. This represents a 52.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $118.47, for a total value of $6,871,260.00. Following the completion of the transaction, the director owned 692,015 shares of the company’s stock, valued at $81,983,017.05. The trade was a 7.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 795,422 shares of company stock worth $100,561,168. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several research analyst reports. Barclays increased their price objective on Airbnb from $120.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Benchmark cut their target price on shares of Airbnb from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Wedbush reiterated a “neutral” rating and set a $130.00 price target on shares of Airbnb in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a research report on Wednesday, January 21st. Finally, Citigroup upgraded shares of Airbnb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $148.69.

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About Airbnb

(Free Report)

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.

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Institutional Ownership by Quarter for Airbnb (NASDAQ:ABNB)

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