Grove Bank & Trust Acquires 4,610 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Grove Bank & Trust lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,758 shares of the company’s stock after purchasing an additional 4,610 shares during the quarter. Grove Bank & Trust’s holdings in Airbnb were worth $2,728,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Airbnb by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 788,487 shares of the company’s stock valued at $119,558,000 after purchasing an additional 90,788 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Airbnb by 13.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,197 shares of the company’s stock valued at $788,000 after buying an additional 608 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Airbnb by 104.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 189,428 shares of the company’s stock worth $28,723,000 after acquiring an additional 96,832 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Airbnb by 3.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 91,207 shares of the company’s stock worth $13,830,000 after acquiring an additional 3,307 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Airbnb by 11.1% in the second quarter. Thrivent Financial for Lutherans now owns 19,729 shares of the company’s stock valued at $2,992,000 after acquiring an additional 1,969 shares during the last quarter. 80.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James assumed coverage on Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 target price for the company. Citigroup upped their price objective on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Susquehanna lifted their target price on Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Monday, November 11th. Wedbush boosted their target price on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial reduced their price target on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Airbnb has a consensus rating of “Hold” and a consensus price target of $139.63.

Airbnb Price Performance

Shares of ABNB opened at $135.12 on Friday. The firm has a market cap of $85.66 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The business’s 50 day moving average price is $134.16 and its two-hundred day moving average price is $131.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, equities analysts anticipate that Airbnb, Inc. will post 3.99 EPS for the current year.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at approximately $2,259,958.40. This trade represents a 41.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the transaction, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,130,982 shares of company stock valued at $150,523,585 in the last 90 days. 27.83% of the stock is currently owned by corporate insiders.

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.