Aberdeen Group plc Buys 23,589 Shares of Airbnb, Inc. $ABNB

Key Points

• Aberdeen Group plc increased its stake in Airbnb by purchasing 23,589 shares, bringing its total holdings to 350,949 shares worth approximately $46.4 million.
• Significant investments from other hedge funds were observed, with Harris Associates boosting its position by 86%, contributing to a total institutional ownership of 80.76% in Airbnb.
• Despite strong earnings results exceeding analysts' expectations, Airbnb's stock price recently declined by 1.6% as of Monday's opening.

Aberdeen Group plc increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350,949 shares of the company's stock after purchasing an additional 23,589 shares during the period. Aberdeen Group plc owned approximately 0.06% of Airbnb worth $46,445,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Harris Associates L P grew its position in shares of Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after buying an additional 4,598,125 shares during the period. Pacer Advisors Inc. grew its holdings in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the period. AQR Capital Management LLC increased its stake in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after purchasing an additional 1,389,251 shares during the period. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of Airbnb during the second quarter worth $170,189,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Down 1.6%

NASDAQ:ABNB opened at $118.19 on Monday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market cap of $73.45 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The business has a 50 day moving average price of $124.34 and a two-hundred day moving average price of $127.28.

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

Analyst Ratings Changes

ABNB has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. BNP Paribas upgraded Airbnb to a "hold" rating in a report on Wednesday, July 16th. Barclays set a $105.00 price objective on Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Finally, Citizens Jmp upgraded shares of Airbnb to a "hold" rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $141.81.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the sale, the insider owned 182,514 shares of the company's stock, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the transaction, the director owned 940,015 shares in the company, valued at approximately $116,157,653.55. The trade was a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,430,876 shares of company stock worth $182,694,292. Insiders own 27.83% 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.

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