Investment House LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 21.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 66,180 shares of the company’s stock after selling 17,832 shares during the period. Investment House LLC’s holdings in Airbnb were worth $10,632,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC lifted its position in shares of Airbnb by 9,331.0% during the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after buying an additional 3,139,315 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Airbnb by 80.6% during the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock valued at $827,929,000 after acquiring an additional 2,581,539 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Airbnb during the 2nd quarter valued at approximately $330,085,000. Assenagon Asset Management S.A. increased its holdings in Airbnb by 114.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,401,521 shares of the company’s stock worth $546,454,000 after acquiring an additional 1,816,522 shares in the last quarter. Finally, MKA Charitable Fund purchased a new stake in Airbnb in the 2nd quarter worth approximately $232,515,606. Hedge funds and other institutional investors own 80.76% of the company’s stock.
Insider Buying and Selling at Airbnb
In other Airbnb news, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction on Monday, October 12th. The shares were sold at an average price of $165.18, for a total transaction of $2,248,925.70. Following the completion of the transaction, the insider directly owned 20,567 shares of the company’s stock, valued at $3,397,257.06. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David C. Bernstein sold 1,369 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $168.01, for a total transaction of $230,005.69. Following the transaction, the chief accounting officer owned 45,655 shares in the company, valued at $7,670,496.55. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,550,715 shares of company stock worth $269,396,918 in the last 90 days. 27.21% of the stock is currently owned by insiders.
Airbnb Trading Up 1.2%
Shares of ABNB stock opened at $175.76 on Friday. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $193.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $172.21 and its two-hundred day simple moving average is $152.88. The company has a market cap of $105.24 billion, a PE ratio of 39.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24.
Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. Research analysts predict that Airbnb, Inc. will post 5.29 earnings per share for the current year.
More Airbnb News
Here are the key news stories impacting Airbnb this week:
- Positive Sentiment: Expanded American Express distribution: Airbnb is partnering with American Express to add more than one million listings to the Amex Travel platform. Eligible U.S. card members will be able to book Airbnb stays and earn rewards, potentially increasing Airbnb’s visibility, bookings, and access to premium travelers. American Express brings Airbnb bookings and rewards to Amex Travel platform
- Positive Sentiment: Analyst support: RBC Capital maintained its Buy rating on ABNB, reinforcing a constructive view of the company’s investment outlook. RBC Capital Keeps Their Buy Rating on Airbnb
- Neutral Sentiment: Guest-policy changes: Airbnb announced new rules limiting the cleaning chores hosts can require before checkout, including restrictions on demanding that guests strip beds or perform other time-consuming tasks. The changes address a long-standing customer complaint, but their effect on booking behavior and host economics remains uncertain. Airbnb Limits Cleaning Chores Hosts Can Require From Guests
- Negative Sentiment: Host backlash risk: Some hosts have threatened to leave the platform in response to the chore limits, raising concerns about listing supply, host relations, and possible implementation costs. Airbnb limits chores for guests, sparking backlash from hosts
- Negative Sentiment: Insider selling: Insider David Bernstein sold 1,369 ABNB shares. While the transaction is small relative to Airbnb’s market value, insider selling can add modestly to investor caution. Airbnb Stock Insider Sells Shares
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Airbnb from $146.00 to $165.00 and gave the stock a “market perform” rating in a research note on Monday, August 10th. Argus increased their price target on Airbnb from $165.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Airbnb in a report on Monday, October 12th. Wall Street Zen downgraded Airbnb from a “buy” rating to a “hold” rating in a research report on Sunday, October 4th. Finally, Robert W. Baird raised their target price on shares of Airbnb from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, September 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.93.
View Our Latest Research Report on Airbnb
Airbnb Profile
Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.
In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.
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