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

China Universal Asset Management Co. Ltd. increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 110.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,581 shares of the company’s stock after buying an additional 2,927 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Airbnb were worth $708,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC purchased a new stake in Airbnb during the first quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in Airbnb during the third quarter valued at $25,000. New Millennium Group LLC purchased a new position in Airbnb during the second quarter valued at $28,000. Cultivar Capital Inc. purchased a new position in Airbnb during the second quarter valued at $30,000. Finally, Heritage Wealth Advisors lifted its holdings in Airbnb by 55.0% during 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 Activity

In other news, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction that occurred 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 directly owns 16,472 shares of the company’s stock, valued at approximately $2,083,378.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 406,171 shares of company stock valued at $50,208,253. Company insiders own 27.83% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. UBS Group increased their price objective on shares of Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a report on Monday, October 7th. Finally, BMO Capital Markets decreased their price objective on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $135.35.

Airbnb Price Performance

Airbnb stock opened at $137.78 on Wednesday. The company’s 50 day simple moving average is $125.71 and its 200-day simple moving average is $138.52. The company has a market capitalization of $88.40 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41.

Airbnb (NASDAQ:ABNB) last released 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). The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. Airbnb’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. As a group, equities research analysts expect that Airbnb, Inc. will post 4.33 earnings per share for the current year.

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.