Daiwa Securities Group Inc. Raises Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Daiwa Securities Group Inc. increased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 41.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,463 shares of the company’s stock after acquiring an additional 30,062 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Airbnb were worth $13,309,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of Airbnb by 9.1% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 43,090 shares of the company’s stock worth $5,464,000 after buying an additional 3,600 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Airbnb by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 3,691 shares of the company’s stock worth $468,000 after buying an additional 97 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Airbnb by 24.9% during the third quarter. Cerity Partners LLC now owns 168,114 shares of the company’s stock worth $21,319,000 after buying an additional 33,509 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Airbnb during the third quarter worth $922,000. Finally, Edgewood Management LLC grew its holdings in shares of Airbnb by 9.2% during the third 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. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush upped their target price on shares of Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on shares of Airbnb from $100.00 to $102.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. 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 report on Friday, November 8th. Piper Sandler upped their price objective on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Citigroup upped their price objective on shares of Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.97.

Airbnb Trading Up 3.1 %

Shares of ABNB stock opened at $137.34 on Monday. The stock has a 50-day simple moving average of $132.73 and a 200 day simple moving average of $135.54. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $87.07 billion, a P/E 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 (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business posted $2.39 earnings per share. On average, sell-side analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now owns 195,844 shares of the company’s stock, valued at $23,501,280. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the transaction, the chief financial officer now owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 641,094 shares of company stock valued at $81,077,447 in the last three months. Company insiders own 27.83% of the company’s stock.

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.