Northern Trust Corp Grows Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Northern Trust Corp increased its stake in Airbnb by 2.5% during the 1st quarter, owning approximately 4.4 million shares valued at about $526 million as of its latest SEC filing.
• Institutional investors account for 80.76% of Airbnb's total shares, highlighting strong interest from large financial entities.
• Airbnb reported $1.03 EPS for the recent quarter, exceeding estimates, with a year-over-year revenue growth of 12.7%.

Northern Trust Corp grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,402,970 shares of the company's stock after buying an additional 106,135 shares during the quarter. Northern Trust Corp owned 0.70% of Airbnb worth $525,979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABNB. Vanguard Group Inc. raised its position in Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after purchasing an additional 604,120 shares during the period. Principal Financial Group Inc. raised its position in Airbnb by 74.4% in the 1st 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. Two Sigma Advisers LP raised its position in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after purchasing an additional 2,577,000 shares during the period. Akre Capital Management LLC raised its position in Airbnb by 10.1% in the 1st quarter. Akre Capital Management LLC now owns 2,917,733 shares of the company's stock worth $348,552,000 after purchasing an additional 268,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Airbnb by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,894,569 shares of the company's stock worth $345,785,000 after purchasing an additional 103,925 shares during the period. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB traded up $3.49 during mid-day trading on Friday, hitting $129.92. 4,561,026 shares of the company's stock were exchanged, compared to its average volume of 5,640,455. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The business has a fifty day moving average price of $132.62 and a 200 day moving average price of $130.56. The company has a market cap of $80.74 billion, a PE ratio of 31.46, a P/E/G ratio of 2.37 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Airbnb's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Jefferies Financial Group decreased their target price on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the stock a "market perform" rating in a report on Thursday, August 7th. UBS Group cut their price target on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $142.72.

Insider Buying and Selling at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,692,739 shares of company stock valued at $224,363,640 over the last three months. 27.91% of the stock is currently owned by corporate insiders.

About Airbnb

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.