Amalgamated Bank Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Amalgamated Bank increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 2.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,210 shares of the company’s stock after buying an additional 1,860 shares during the quarter. Amalgamated Bank’s holdings in Airbnb were worth $14,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABNB. Joel Isaacson & Co. LLC increased its stake in shares of Airbnb by 2.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after acquiring an additional 67 shares during the last quarter. Miracle Mile Advisors LLC increased its position in Airbnb by 0.7% during the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after purchasing an additional 68 shares during the last quarter. Farrow Financial Inc. raised its stake in Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after purchasing an additional 69 shares during the period. Heritage Wealth Advisors raised its stake in Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 71 shares during the period. Finally, GYL Financial Synergies LLC boosted its holdings in 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 purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total value of $89,382.00. Following the transaction, the chief technology officer now owns 209,374 shares in the company, valued at approximately $31,190,444.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $148.97, for a total value of $89,382.00. Following the completion of the transaction, the chief technology officer now directly owns 209,374 shares of the company’s stock, valued at $31,190,444.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 80,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total transaction of $11,928,800.00. Following the completion of the transaction, the chief technology officer now owns 207,574 shares in the company, valued at $30,951,359.14. The disclosure for this sale can be found here. Insiders sold 449,332 shares of company stock valued at $67,263,009 in the last ninety days. Insiders own 27.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABNB shares. Susquehanna cut their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Morgan Stanley raised their target price on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Bank of America decreased their price target on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird cut their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial reduced their price objective on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $134.17.

Airbnb Trading Up 0.2 %

NASDAQ ABNB opened at $122.42 on Thursday. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The firm has a 50 day moving average of $126.26 and a two-hundred day moving average of $145.03. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $78.84 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, research analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal 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.