Airbnb, Inc. $ABNB Stake Lifted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its Airbnb stake by 23.8% in the fourth quarter, adding 202,308 shares and bringing its total to 1,053,392 shares valued at about $143 million.
• Other institutional investors also boosted positions, and institutions now own 80.76% of Airbnb’s stock, signaling broad Wall Street interest in the company.
• Analysts remain generally positive on Airbnb with a Moderate Buy consensus and an average price target of $157.96, even though the company recently missed EPS estimates while delivering stronger-than-expected revenue growth.

Hsbc Holdings PLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,392 shares of the company's stock after purchasing an additional 202,308 shares during the period. Hsbc Holdings PLC owned 0.17% of Airbnb worth $142,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harris Associates L P boosted its stake in Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company's stock valued at $1,884,168,000 after buying an additional 4,292,383 shares in the last quarter. Independent Franchise Partners LLP acquired a new position in Airbnb during the third quarter worth about $505,672,000. Norges Bank bought a new stake in Airbnb in the fourth quarter worth about $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Airbnb by 453.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company's stock worth $403,782,000 after acquiring an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC bought a new position in shares of Airbnb during the 4th quarter valued at about $342,017,000. Institutional investors own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

ABNB has been the topic of several recent research reports. Robert W. Baird set a $150.00 price objective on shares of Airbnb in a research note on Friday, May 8th. Oppenheimer raised shares of Airbnb from a "market perform" rating to an "outperform" rating and set a $180.00 target price for the company in a research note on Monday, May 4th. Needham & Company LLC initiated coverage on shares of Airbnb in a report on Monday, May 4th. They set a "buy" rating for the company. Morgan Stanley lowered shares of Airbnb from an "underweight" rating to an "underweight" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $173.00 price target on shares of Airbnb in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.96.

Airbnb Stock Performance

Shares of ABNB opened at $142.41 on Friday. The business's 50-day moving average price is $136.36 and its 200 day moving average price is $132.10. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $85.83 billion, a P/E ratio of 35.08, a P/E/G ratio of 1.53 and a beta of 1.16. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $147.25.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the company posted $0.24 earnings per share. Airbnb's quarterly revenue was up 17.9% compared to the same quarter last year. Analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Insider Activity

In other news, CFO Elinor Mertz sold 7,433 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $136.24, for a total value of $1,012,671.92. Following the completion of the sale, the chief financial officer owned 449,040 shares in the company, valued at $61,177,209.60. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 265,000 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $138.51, for a total value of $36,705,150.00. Following the completion of the sale, the director directly owned 2,917,355 shares of the company's stock, valued at approximately $404,082,841.05. This trade represents a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,972,860 shares of company stock worth $267,555,449 over the last 90 days. 27.21% 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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