Airbnb, Inc. $ABNB Stock Position Cut by MKA Charitable Fund

Key Points

• MKA Charitable Fund reduced its stake in Airbnb by 3.3%, now holding nearly 1.95 million shares, which represents around 100% of its investment portfolio.
• Several other institutional investors raised their stakes in Airbnb, with< strong>Sit Investment Associates Inc. and Vestmark Advisory Solutions Inc. increasing their holdings by 42.8% and 74.8%, respectively, indicating growing institutional confidence in the company.
• Insiders have sold over 1.45 million shares of Airbnb stock in the last 90 days, highlighting potential concerns about the company's stock performance among its management.

MKA Charitable Fund lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,947,288 shares of the company's stock after selling 66,807 shares during the quarter. Airbnb makes up 100.0% of MKA Charitable Fund's portfolio, making the stock its biggest position. MKA Charitable Fund owned 0.31% of Airbnb worth $232,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Airbnb by 1.6% during the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after purchasing an additional 604,120 shares in the last quarter. Northern Trust Corp lifted its position in shares of Airbnb by 2.5% during the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock valued at $525,979,000 after buying an additional 106,135 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after buying an additional 1,389,251 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares in the last quarter. Finally, Akre Capital Management LLC lifted its position in Airbnb by 10.1% during the first quarter. Akre Capital Management LLC now owns 2,917,733 shares of the company's stock valued at $348,552,000 after acquiring an additional 268,335 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $129.46, for a total value of $30,552,560.00. Following the sale, the director owned 944,015 shares in the company, valued at $122,212,181.90. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total value of $826,750.00. Following the sale, the chief financial officer directly owned 467,611 shares in the company, valued at approximately $61,855,583.08. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,692,739 shares of company stock worth $224,363,640 over the last three months. Company insiders own 27.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABNB. JPMorgan Chase & Co. lifted 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. Benchmark lowered their price objective on Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets set a $124.00 target price on Airbnb and gave the company a "market perform" rating in a research report on Thursday, August 7th. UBS Group lowered their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Wedbush dropped their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $142.72.

Airbnb Stock Down 1.1%

Shares of Airbnb stock traded down $1.4330 on Monday, reaching $128.4870. 885,929 shares of the stock were exchanged, compared to its average volume of 5,260,359. The business has a 50 day moving average price of $132.62 and a two-hundred day moving average price of $130.54. The firm has a market capitalization of $79.85 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.37 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93.

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

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.