China Universal Asset Management Co. Ltd. Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

China Universal Asset Management Co. Ltd. lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 110.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,581 shares of the company’s stock after purchasing an additional 2,927 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Airbnb were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABNB. Transcendent Capital Group LLC purchased a new position in shares of Airbnb in the first quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Airbnb in the third quarter valued at $25,000. New Millennium Group LLC purchased a new position in shares of Airbnb in the second quarter valued at $28,000. Cultivar Capital Inc. purchased a new position in shares of Airbnb in the second quarter valued at $30,000. Finally, Heritage Wealth Advisors grew its holdings in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In other news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now owns 16,472 shares in the company, valued at $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,171 shares of company stock worth $50,208,253 over the last 90 days. 27.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABNB has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley lifted their price objective on shares of Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Susquehanna dropped their price objective on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th. Finally, Raymond James initiated coverage on shares of Airbnb in a research note on Friday, September 27th. They set a “market perform” rating and a $134.00 price objective for the company. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $135.35.

Airbnb Trading Up 1.5 %

Shares of Airbnb stock opened at $137.78 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The firm has a market capitalization of $88.40 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.83 and a beta of 1.17. The firm’s 50 day simple moving average is $125.71 and its two-hundred day simple moving average is $138.52.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Airbnb, Inc. will post 4.33 EPS for the current year.

About Airbnb

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.