Sentry Investment Management LLC Grows Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sentry Investment Management LLC increased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 81.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,107 shares of the company’s stock after purchasing an additional 947 shares during the period. Sentry Investment Management LLC’s holdings in Airbnb were worth $267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. ProShare Advisors LLC increased its holdings in Airbnb by 20.6% in the 1st quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after acquiring an additional 83,383 shares during the last quarter. Shellback Capital LP bought a new stake in shares of Airbnb in the second quarter worth about $22,744,000. Bradley Foster & Sargent Inc. CT lifted its position in shares of Airbnb by 1,231.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock worth $3,145,000 after buying an additional 19,183 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock worth $5,662,164,000 after buying an additional 791,149 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after buying an additional 5,962 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of research reports. Barclays decreased their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. Robert W. Baird dropped their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. 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. Finally, BMO Capital Markets lowered their price target on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $135.35.

Airbnb Stock Performance

Shares of ABNB stock opened at $136.87 on Tuesday. The firm has a market cap of $87.82 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.93 and a beta of 1.15. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. 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 company’s 50 day moving average is $127.29 and its 200 day moving average is $137.91.

Airbnb (NASDAQ:ABNB) last announced 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%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.17 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Gebbia sold 42,719 shares of the 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 completion of the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 417,806 shares of company stock valued at $51,809,831 over the last quarter. 27.83% of the stock is owned by corporate insiders.

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.