Perigon Wealth Management LLC Buys 3,758 Shares of Airbnb, Inc. $ABNB

Perigon Wealth Management LLC lifted its stake in Airbnb, Inc. (NASDAQ:ABNB) by 47.0% in the third quarter, HoldingsChannel.com reports. The fund owned 11,747 shares of the company’s stock after purchasing an additional 3,758 shares during the period. Perigon Wealth Management LLC’s holdings in Airbnb were worth $1,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. Kentucky Trust Co bought a new stake in Airbnb in the 2nd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after acquiring an additional 83 shares during the period. Concord Wealth Partners purchased a new stake in Airbnb during the second quarter valued at $28,000. Whipplewood Advisors LLC lifted its holdings in Airbnb by 235.3% in the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after acquiring an additional 160 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its position in Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Insider Activity

In other news, CFO Elinor Mertz sold 7,500 shares of Airbnb stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $130.00, for a total transaction of $975,000.00. Following the sale, the chief financial officer owned 418,030 shares in the company, valued at $54,343,900. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $131.16, for a total value of $6,719,326.80. Following the sale, the chief executive officer directly owned 45,854 shares in the company, valued at $6,014,210.64. This trade represents a 52.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,518,606 shares of company stock valued at $185,179,640 in the last three months. 27.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABNB. KeyCorp began coverage on shares of Airbnb in a research report on Thursday, October 23rd. They set a “sector weight” rating for the company. UBS Group upped their target price on shares of Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Sanford C. Bernstein reiterated an “outperform” rating and set a $165.00 price target on shares of Airbnb in a research note on Friday, November 7th. Jefferies Financial Group upped their price objective on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Royal Bank Of Canada upgraded Airbnb from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $145.00 to $170.00 in a research report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $144.48.

Airbnb Price Performance

Shares of ABNB stock opened at $136.91 on Wednesday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company’s fifty day moving average price is $125.09 and its 200-day moving average price is $127.42. The company has a market capitalization of $84.27 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.40 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 EPS. Equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.