Airbnb, Inc. $ABNB Stake Increased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Airbnb stake by 1,658.8% in the third quarter, bringing its holdings to 41,700 shares worth approximately $6.7 million. Institutional investors collectively own 80.76% of Airbnb.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $182.43. Airbnb’s latest quarter also exceeded expectations, reporting $1.37 in EPS and $3.61 billion in revenue, up 16.3% year over year.
• Risks include substantial insider selling and potential pressure on hosts from new cleaning-task rules and U.K. tax measures. Co-founder Nathan Blecharczyk sold 13,615 shares for about $2.33 million, while Airbnb is scheduled to report its next quarterly results the following week.

International Assets Investment Management LLC raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 1,658.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 41,700 shares of the company's stock after purchasing an additional 39,329 shares during the quarter. International Assets Investment Management LLC's holdings in Airbnb were worth $6,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company's stock worth $27,000 after buying an additional 105 shares during the last quarter. Pension & Wealth Management Advisors Inc. acquired a new position in Airbnb in the third quarter valued at $35,000. Main Street Group LTD acquired a new position in Airbnb in the first quarter valued at $29,000. Western Wealth Management LLC bought a new stake in Airbnb during the first quarter valued at $34,000. Finally, Global Assets Advisory LLC bought a new stake in Airbnb during the first quarter valued at $38,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Key Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
• Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
• Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
• Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 13,615 shares of the company's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $170.81, for a total transaction of $2,325,578.15. Following the transaction, the insider owned 20,567 shares in the company, valued at approximately $3,513,049.27. This represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO David Bernstein sold 1,369 shares of Airbnb stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $168.01, for a total transaction of $230,005.69. Following the transaction, the chief accounting officer owned 45,655 shares of the company's stock, valued at $7,670,496.55. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,281,967 shares of company stock valued at $230,470,521. 27.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird increased their price target on Airbnb from $175.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, September 8th. Raymond James Financial upgraded Airbnb from a "market perform" rating to an "outperform" rating and set a $200.00 target price on the stock in a research report on Tuesday, September 8th. The Goldman Sachs Group raised Airbnb from a "sell" rating to a "neutral" rating in a research note on Friday, October 2nd. Wall Street Zen downgraded Airbnb from a "buy" rating to a "hold" rating in a report on Sunday, October 4th. Finally, B. Riley Financial reissued a "buy" rating and issued a $210.00 price target (up from $180.00) on shares of Airbnb in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.43.

Airbnb Stock Performance

Shares of ABNB opened at $164.39 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50-day moving average of $170.39 and a 200-day moving average of $146.67. The company has a market cap of $98.44 billion, a PE ratio of 37.36, a P/E/G ratio of 1.88 and a beta of 1.26. Airbnb, Inc. has a one year low of $110.81 and a one year high of $193.45.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, equities research analysts predict that Airbnb, Inc. will post 5.29 EPS for the current fiscal year.

Airbnb Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.

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