Assenagon Asset Management S.A. Increases Position in Airbnb, Inc. (NASDAQ:ABNB)

Assenagon Asset Management S.A. lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 119.7% during the first quarter, HoldingsChannel reports. The fund owned 1,506,704 shares of the company’s stock after acquiring an additional 820,887 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Airbnb were worth $179,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ABNB. Golden State Wealth Management LLC purchased a new position in shares of Airbnb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new position in Airbnb during the fourth quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $28,000. Graney & King LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $32,000. Finally, Whipplewood Advisors LLC acquired a new position in Airbnb during the 4th quarter worth $44,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

Shares of Airbnb stock opened at $138.56 on Wednesday. The firm has a market cap of $86.80 billion, a P/E ratio of 33.55, a P/E/G ratio of 3.52 and a beta of 1.14. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The stock’s fifty day moving average price is $124.43 and its 200-day moving average price is $130.77.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $0.41 EPS. Airbnb’s revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the sale, the chief financial officer now owns 491,330 shares of the company’s stock, valued at $58,959,600. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Chesky sold 38,461 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $126.60, for a total value of $4,869,162.60. Following the completion of the sale, the chief executive officer now directly owns 11,770,144 shares in the company, valued at $1,490,100,230.40. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,427,033 shares of company stock worth $175,485,785. 27.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABNB. JMP Securities restated a “market perform” rating on shares of Airbnb in a research report on Friday, May 2nd. Wells Fargo & Company lifted their target price on shares of Airbnb from $100.00 to $104.00 and gave the stock an “underweight” rating in a research report on Friday, May 2nd. DA Davidson raised shares of Airbnb from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $170.00 to $155.00 in a research report on Wednesday, April 30th. Canaccord Genuity Group lowered their price target on shares of Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, HSBC raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $141.23.

Airbnb 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.