Harvest Fund Management Co. Ltd Buys 6,546 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Harvest Fund Management Co. Ltd grew its position in Airbnb, Inc. (NASDAQ:ABNB) by 46.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,714 shares of the company’s stock after purchasing an additional 6,546 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Airbnb were worth $2,627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABNB. Edgewood Management LLC increased its holdings in shares of Airbnb by 9.2% during the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Pacer Advisors Inc. raised its position in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares during the last quarter. Legal & General Group Plc raised its holdings in Airbnb by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after purchasing an additional 153,784 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock valued at $343,185,000 after buying an additional 52,358 shares during the period. Finally, MKA Charitable Fund boosted its position in shares of Airbnb by 17.2% in the 3rd quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after purchasing an additional 296,153 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of Airbnb stock opened at $137.34 on Monday. The stock has a market cap of $87.07 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 1.89 and a beta of 1.15. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a twelve month low of $110.38 and a twelve month high of $170.10. The company’s fifty day moving average is $132.73 and its 200 day moving average is $135.54.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion during 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 period in the previous year, the company posted $2.39 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.02 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of Airbnb stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the completion of the transaction, the director now owns 16,472 shares in the company, valued at approximately $2,259,958.40. The trade was a 41.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $72,000.00. Following the completion of the transaction, the chief technology officer now owns 195,844 shares in the company, valued at $23,501,280. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 641,094 shares of company stock valued at $81,077,447. Company insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABNB shares. Truist Financial cut their target price on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Citigroup increased their price target on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Mizuho decreased their price objective on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Phillip Securities reissued a “reduce” rating and set a $120.00 price objective on shares of Airbnb in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $138.97.

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.