Oppenheimer Asset Management Inc. Buys 22,240 Shares of Airbnb, Inc. $ABNB

Oppenheimer Asset Management Inc. boosted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 13.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 190,799 shares of the company’s stock after purchasing an additional 22,240 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Airbnb were worth $25,250,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sit Investment Associates Inc. raised its position in shares of Airbnb by 42.8% in the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock valued at $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. raised its position in shares of Airbnb by 74.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after purchasing an additional 8,780 shares during the period. Plato Investment Management Ltd raised its position in shares of Airbnb by 53.1% in the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock valued at $2,291,000 after purchasing an additional 6,579 shares during the period. Acadian Asset Management LLC raised its position in shares of Airbnb by 52.9% in the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock valued at $293,590,000 after purchasing an additional 850,719 shares during the period. Finally, York GP Ltd. bought a new stake in shares of Airbnb in the second quarter valued at approximately $6,617,000. Institutional investors own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $124.26, for a total value of $74,556.00. Following the sale, the chief technology officer owned 197,206 shares in the company, valued at $24,504,817.56. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,425,876 shares of company stock worth $177,336,982 over the last 90 days. Corporate insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Wedbush reduced their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Truist Financial reduced their price objective on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $141.70.

Airbnb Stock Performance

NASDAQ ABNB opened at $127.99 on Friday. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market capitalization of $79.54 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.33 and a beta of 1.10. The company has a fifty day moving average of $124.48 and a 200-day moving average of $128.00.

Airbnb (NASDAQ:ABNB) last released its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal 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.