Airbnb, Inc. $ABNB Holdings Boosted by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 89.8% during the third quarter, HoldingsChannel.com reports. The fund owned 50,245 shares of the company’s stock after buying an additional 23,773 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Airbnb were worth $8,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in shares of Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Main Street Group LTD bought a new position in Airbnb during the first quarter valued at approximately $29,000. Western Wealth Management LLC bought a new position in Airbnb during the first quarter valued at approximately $34,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Airbnb in the third quarter worth approximately $35,000. Finally, Global Assets Advisory LLC purchased a new stake in Airbnb in the first quarter worth approximately $38,000. 80.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABNB has been the subject of a number of research analyst reports. Royal Bank Of Canada began coverage on shares of Airbnb in a research report on Friday, October 2nd. They issued an “outperform” rating for the company. Susquehanna increased their price target on Airbnb from $170.00 to $200.00 and gave the company a “positive” rating in a report on Friday, August 7th. Oppenheimer raised their price target on Airbnb from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 27th. Wells Fargo & Company cut their price objective on Airbnb from $186.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Finally, Benchmark upped their price objective on Airbnb from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Airbnb has an average rating of “Moderate Buy” and a consensus price target of $182.43.

Airbnb Trading Up 4.1%

Shares of ABNB stock opened at $171.11 on Tuesday. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $193.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $102.46 billion, a PE ratio of 38.89, a PEG ratio of 1.90 and a beta of 1.24. The stock has a fifty day simple moving average of $170.06 and a two-hundred day simple moving average of $146.83.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 16.3% on a year-over-year basis. On average, analysts predict that Airbnb, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In related news, CAO David Bernstein sold 1,369 shares of Airbnb stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $168.01, for a total transaction of $230,005.69. Following the sale, the chief accounting officer owned 45,655 shares of the company’s stock, valued at approximately $7,670,496.55. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $170.81, for a total value of $2,325,578.15. Following the sale, the insider directly owned 20,567 shares in the company, valued at $3,513,049.27. This trade represents a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,281,967 shares of company stock valued at $230,470,521 in the last quarter. 27.21% of the stock is currently owned by company insiders.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.