Principal Financial Group Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,473 shares of the company’s stock, valued at approximately $226,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABNB. Rhumbline Advisers acquired a new stake in Airbnb during the 1st quarter worth about $396,000. State Board of Administration of Florida Retirement System acquired a new stake in Airbnb during the 1st quarter worth about $446,000. Rockefeller Capital Management L.P. lifted its position in Airbnb by 210.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,603 shares of the company’s stock worth $301,000 after acquiring an additional 1,087 shares during the period. Teacher Retirement System of Texas lifted its position in Airbnb by 189.8% during the 1st quarter. Teacher Retirement System of Texas now owns 5,796 shares of the company’s stock worth $1,089,000 after acquiring an additional 3,796 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Airbnb during the 1st quarter worth about $233,000. 25.22% of the stock is owned by institutional investors.
ABNB has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Airbnb in a research report on Monday, September 13th. They set a “sell” rating and a $132.00 price target for the company. Robert W. Baird reissued a “buy” rating and issued a $200.00 price objective on shares of Airbnb in a report on Friday, September 24th. Zacks Investment Research cut Airbnb from a “buy” rating to a “hold” rating in a report on Thursday, August 12th. Gordon Haskett raised Airbnb from an “underperform” rating to a “buy” rating and set a $172.00 price objective for the company in a report on Tuesday, July 13th. Finally, Needham & Company LLC boosted their price objective on Airbnb from $194.00 to $200.00 and gave the company a “buy” rating in a report on Friday, August 13th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.72.
Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Wednesday, August 11th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.36. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.28 billion. On average, equities research analysts expect that Airbnb, Inc. will post -0.27 EPS for the current year.
In other Airbnb news, CTO Aristotle N. Balogh sold 4,000 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $154.84, for a total transaction of $619,360.00. Following the transaction, the chief technology officer now directly owns 325,164 shares in the company, valued at $50,348,393.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dave Stephenson sold 15,203 shares of the company’s stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $158.28, for a total value of $2,406,330.84. Following the transaction, the chief financial officer now owns 309,519 shares in the company, valued at $48,990,667.32. The disclosure for this sale can be found here. Insiders sold 1,477,941 shares of company stock valued at $222,969,514 over the last quarter. 36.30% of the stock is currently owned by company insiders.
Airbnb Company Profile
Airbnb, Inc, together with its subsidiaries, operates a platform for 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 and luxury villas. The company was formerly known as AirBed & Breakfast, Inc and changed its name to Airbnb, Inc in November 2010.
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