Airbnb, Inc. $ABNB Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its Airbnb stake by 39.7%, buying 98,739 shares to hold 347,343 shares valued at about $47.14 million.
• Airbnb reported Q results with an EPS miss ($0.56 vs. $0.66 expected) but revenue grew 12.9% to $2.78 billion, and the company has a market cap of roughly $87.4 billion and a P/E of 35.54.
• Institutional investors own about 80.76% of ABNB, while insiders have sold 363,510 shares in the past 90 days and now hold 27.83% of the stock.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,343 shares of the company's stock after acquiring an additional 98,739 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Airbnb worth $47,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ABNB. Vanguard Group Inc. lifted its holdings in shares of Airbnb by 1.7% in the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company's stock valued at $4,649,814,000 after purchasing an additional 649,323 shares in the last quarter. Harris Associates L P increased its stake in shares of Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company's stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Airbnb by 58.6% during the 3rd quarter. AQR Capital Management LLC now owns 4,269,937 shares of the company's stock worth $518,456,000 after purchasing an additional 1,577,338 shares in the last quarter. Independent Franchise Partners LLP acquired a new position in shares of Airbnb during the 3rd quarter worth approximately $505,672,000. Finally, Akre Capital Management LLC lifted its stake in Airbnb by 19.0% in the 2nd quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company's stock valued at $459,649,000 after buying an additional 555,510 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Shares of ABNB opened at $143.59 on Tuesday. Airbnb, Inc. has a fifty-two week low of $109.79 and a fifty-two week high of $143.88. The company has a market capitalization of $87.40 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The stock has a fifty day moving average of $129.35 and a two-hundred day moving average of $127.76.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.10). The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.Airbnb's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABNB shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Airbnb in a report on Wednesday, January 21st. Sanford C. Bernstein reduced their price objective on Airbnb from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 6th. Mizuho increased their price objective on Airbnb from $156.00 to $175.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. UBS Group lifted their price objective on Airbnb from $147.00 to $149.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 3rd. Finally, TD Cowen boosted their target price on shares of Airbnb from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $149.40.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 58,000 shares of the company's stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $133.28, for a total transaction of $7,730,240.00. Following the completion of the transaction, the director owned 460,015 shares of the company's stock, valued at $61,310,799.20. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $130.99, for a total transaction of $491,212.50. Following the transaction, the chief financial officer owned 394,359 shares in the company, valued at approximately $51,657,085.41. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 363,510 shares of company stock worth $46,447,668. 27.83% of the stock is owned by company insiders.

Airbnb Company Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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