Red Spruce Capital LLC Raises Stake in Airbnb, Inc. (NASDAQ:ABNB)

Red Spruce Capital LLC increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 1.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,996 shares of the company’s stock after purchasing an additional 169 shares during the period. Red Spruce Capital LLC’s holdings in Airbnb were worth $1,666,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABNB. Norges Bank purchased a new stake in Airbnb during the 4th quarter worth about $332,438,000. Renaissance Technologies LLC lifted its holdings in Airbnb by 18.2% during the 4th quarter. Renaissance Technologies LLC now owns 8,602,746 shares of the company’s stock worth $735,535,000 after purchasing an additional 1,323,719 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in Airbnb during the 1st quarter worth about $151,147,000. Findlay Park Partners LLP purchased a new stake in shares of Airbnb in the 4th quarter valued at about $95,912,000. Finally, First Republic Investment Management Inc. raised its holdings in shares of Airbnb by 76.9% in the 4th quarter. First Republic Investment Management Inc. now owns 2,518,714 shares of the company’s stock valued at $215,350,000 after acquiring an additional 1,094,694 shares in the last quarter. Hedge funds and other institutional investors own 44.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ABNB shares. TD Cowen lowered their price target on Airbnb from $158.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Airbnb from $102.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, August 8th. Susquehanna increased their price objective on Airbnb from $155.00 to $165.00 in a research report on Monday, August 7th. Wedbush increased their price objective on Airbnb from $130.00 to $145.00 in a research report on Friday, August 4th. Finally, TheStreet upgraded Airbnb from a “d+” rating to a “c-” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus price target of $144.50.

Airbnb Trading Down 0.4 %

Shares of ABNB stock traded down $0.55 on Thursday, reaching $144.16. 2,766,658 shares of the company’s stock were exchanged, compared to its average volume of 6,105,686. The company’s fifty day simple moving average is $138.36 and its 200 day simple moving average is $125.37. The stock has a market capitalization of $93.31 billion, a PE ratio of 42.19, a P/E/G ratio of 1.89 and a beta of 1.29. Airbnb, Inc. has a 52 week low of $81.91 and a 52 week high of $154.95. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.39.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.77 by $0.21. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.42 billion. Airbnb had a return on equity of 42.90% and a net margin of 25.31%. Airbnb’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. As a group, analysts forecast that Airbnb, Inc. will post 3.72 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, insider Catherine C. Powell sold 6,900 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $145.00, for a total transaction of $1,000,500.00. Following the transaction, the insider now directly owns 121,319 shares in the company, valued at approximately $17,591,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Catherine C. Powell sold 6,900 shares of Airbnb stock in a transaction on Monday, July 17th. The stock was sold at an average price of $145.00, for a total value of $1,000,500.00. Following the transaction, the insider now directly owns 121,319 shares in the company, valued at approximately $17,591,255. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 2,750 shares of Airbnb stock in a transaction on Monday, June 26th. The shares were sold at an average price of $123.00, for a total value of $338,250.00. Following the completion of the transaction, the chief technology officer now owns 203,401 shares in the company, valued at $25,018,323. The disclosure for this sale can be found here. Insiders have sold 1,935,348 shares of company stock worth $264,281,185 in the last ninety days. 30.84% of the stock is owned by company insiders.

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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.