Parnassus Investments LLC Grows Position in Airbnb, Inc. (NASDAQ:ABNB)

Parnassus Investments LLC raised its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 67.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,781 shares of the company’s stock after purchasing an additional 3,127 shares during the period. Parnassus Investments LLC’s holdings in Airbnb were worth $987,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Farrow Financial Inc. increased its holdings in Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after buying an additional 69 shares during the period. GYL Financial Synergies LLC increased its holdings in shares of Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after acquiring an additional 76 shares during the period. HB Wealth Management LLC increased its holdings in shares of Airbnb by 1.6% in the 2nd quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock valued at $749,000 after acquiring an additional 76 shares during the period. Optas LLC lifted its stake in shares of Airbnb by 4.5% during the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock worth $277,000 after purchasing an additional 78 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in Airbnb by 1.1% during the second quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock valued at $1,113,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.6 %

Airbnb stock opened at $131.44 on Wednesday. The business’s 50-day moving average price is $131.63 and its 200 day moving average price is $136.06. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a market cap of $83.33 billion, a price-to-earnings ratio of 46.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last posted 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 net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the firm earned $2.39 earnings per share. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Analysts Set New Price Targets

ABNB has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Susquehanna boosted their price objective on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday, November 11th. Morgan Stanley raised their target price on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. TD Cowen lifted their price target on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Wedbush increased their price objective on Airbnb from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $138.97.

Insider Buying and Selling at Airbnb

In related news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This trade represents a 72.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,206 shares of company stock valued at $51,738,467 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

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.