Whittier Trust Co. Sells 2,057 Shares of Airbnb, Inc. $ABNB

Whittier Trust Co. lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,955 shares of the company’s stock after selling 2,057 shares during the period. Whittier Trust Co.’s holdings in Airbnb were worth $2,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABNB. GAMMA Investing LLC grew its stake in Airbnb by 98.9% in the first quarter. GAMMA Investing LLC now owns 5,115 shares of the company’s stock valued at $611,000 after purchasing an additional 2,543 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in Airbnb by 54.4% in the first quarter. Flagship Harbor Advisors LLC now owns 8,845 shares of the company’s stock valued at $1,057,000 after purchasing an additional 3,116 shares during the last quarter. Continuum Advisory LLC grew its stake in Airbnb by 16.6% in the first quarter. Continuum Advisory LLC now owns 1,382 shares of the company’s stock valued at $165,000 after purchasing an additional 197 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Airbnb by 2.1% in the first quarter. Oppenheimer & Co. Inc. now owns 31,231 shares of the company’s stock valued at $3,731,000 after purchasing an additional 642 shares during the last quarter. Finally, Valmark Advisers Inc. purchased a new position in Airbnb in the first quarter valued at about $481,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.8%

Shares of NASDAQ ABNB opened at $127.50 on Thursday. The business’s 50 day moving average price is $124.36 and its 200 day moving average price is $127.54. The firm has a market cap of $79.23 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.35 and a beta of 1.10. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB) last issued 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. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.Airbnb’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total value 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 represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $124.26, for a total value of $74,556.00. Following the completion of the sale, the chief technology officer owned 197,206 shares in the company, valued at approximately $24,504,817.56. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,425,876 shares of company stock worth $177,336,982 over the last quarter. Insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several analyst reports. UBS Group cut their target price on Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. BNP Paribas upgraded Airbnb to a “hold” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada boosted their price target on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $141.81.

Airbnb Profile

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.