Sciencast Management LP Invests $2.67 Million in Airbnb, Inc. $ABNB

Key Points

• Sciencast Management LP acquired 22,307 shares of Airbnb, valued at approximately $2.67 million, indicating significant institutional interest in the company.
• Airbnb's stock price fell by 1.2% to open at $123.81, with a market capitalization of $76.94 billion and a current price-to-earnings ratio of 29.98.
• Several analysts have set varying price targets for Airbnb, with a consensus target of $142.66, and the stock currently holds a consensus rating of "Hold."

Sciencast Management LP acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,307 shares of the company's stock, valued at approximately $2,665,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new position in Airbnb in the fourth quarter worth $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the fourth quarter worth $28,000. Stonebridge Financial Group LLC boosted its position in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, SouthState Corp boosted its position in Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ABNB. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. BMO Capital Markets set a $124.00 target price on Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a "hold" rating in a research note on Monday, August 11th. Wedbush lowered their target price on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, UBS Group lowered their target price on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $142.66.

Airbnb Price Performance

NASDAQ ABNB traded down $0.50 during trading on Friday, reaching $122.55. The company's stock had a trading volume of 5,252,637 shares, compared to its average volume of 5,222,745. The stock has a market capitalization of $76.16 billion, a PE ratio of 29.67, a P/E/G ratio of 2.25 and a beta of 1.13. The firm has a fifty day moving average of $130.74 and a 200 day moving average of $128.74. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company earned $0.86 EPS. The company's quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares in the company, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the sale, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,438,326 shares of company stock worth $188,798,155 over the last three months. Corporate insiders own 27.91% of the company's stock.

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.