SVB Wealth LLC Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

SVB Wealth LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 37,224 shares of the company’s stock, valued at approximately $4,892,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABNB. Edgewood Management LLC grew its stake in Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after buying an additional 1,143,464 shares in the last quarter. Geode Capital Management LLC lifted its position in Airbnb by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,399,568 shares of the company’s stock worth $1,189,635,000 after buying an additional 146,761 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Airbnb by 6,085.6% in the third quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after buying an additional 4,172,985 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Airbnb by 2.0% during 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 acquiring an additional 52,358 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Airbnb by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,360,004 shares of the company’s stock worth $299,272,000 after acquiring an additional 80,610 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 10,500 shares of Airbnb stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $136.97, for a total value of $1,438,185.00. Following the completion of the sale, the chief financial officer now owns 503,738 shares of the company’s stock, valued at approximately $68,996,993.86. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $128.15, for a total value of $89,705.00. Following the transaction, the chief technology officer now directly owns 182,614 shares in the company, valued at approximately $23,401,984.10. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,117,468 shares of company stock valued at $299,565,586. Insiders own 27.83% of the company’s stock.

Airbnb Trading Down 0.4 %

Shares of NASDAQ ABNB opened at $138.87 on Friday. The stock has a market cap of $87.56 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 3.52 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm has a 50-day moving average of $136.52 and a 200 day moving average of $131.91.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABNB. TD Cowen upped their price objective on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Hsbc Global Res raised Airbnb from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Benchmark lifted their price objective on Airbnb from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. increased their target price on Airbnb from $121.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Bank of America lifted their price target on Airbnb from $154.00 to $159.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $146.48.

Airbnb Company 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.