Airbnb, Inc. $ABNB Shares Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Airbnb by 52.9%, owning nearly 2.5 million shares valued at approximately $293.6 million.
• Airbnb reported a 12.7% year-over-year revenue growth, with earnings per share of $1.03, surpassing analyst expectations by $0.11.
• Institutional investors now own 80.76% of Airbnb's stock, reflecting significant interest from major financial entities.

Acadian Asset Management LLC raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 52.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,457,837 shares of the company's stock after purchasing an additional 850,719 shares during the period. Acadian Asset Management LLC owned 0.39% of Airbnb worth $293,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sit Investment Associates Inc. increased its position in shares of Airbnb by 42.8% in the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after acquiring an additional 5,060 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Airbnb by 74.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock worth $2,451,000 after acquiring an additional 8,780 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after acquiring an additional 484 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Airbnb by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after acquiring an additional 228 shares in the last quarter. Finally, Spire Wealth Management increased its position in shares of Airbnb by 40.1% in the first quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $123.81 on Wednesday. The stock has a market capitalization of $76.94 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company's fifty day moving average is $131.25 and its two-hundred day moving average is $128.92.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued 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. The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares in the company, valued at $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,438,926 shares of company stock valued at $188,880,433 in the last ninety days. 27.83% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABNB shares. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. UBS Group decreased their target price on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Finally, BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $142.66.

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.

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