Airbnb, Inc. $ABNB Stock Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management more than doubled its Airbnb stake in the third quarter, adding 1.82 million shares to own 3.40 million shares valued at approximately $546.5 million. Institutional investors collectively own 80.76% of ABNB.
• Airbnb reported quarterly earnings of $1.37 per share, exceeding estimates of $1.26, while revenue rose 16.3% year over year to $3.61 billion. The stock was trading at $174.28, up 4.3%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $181.93; several firms recently raised targets to $200. Meanwhile, insiders sold more than 1.56 million shares worth about $271.1 million over the past three months.

Assenagon Asset Management S.A. increased its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 114.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,401,521 shares of the company's stock after purchasing an additional 1,816,522 shares during the quarter. Assenagon Asset Management S.A. owned 0.57% of Airbnb worth $546,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABNB. Carmignac Gestion boosted its position in shares of Airbnb by 40.8% in the 1st quarter. Carmignac Gestion now owns 659,570 shares of the company's stock valued at $83,290,000 after purchasing an additional 191,200 shares during the period. OMERS ADMINISTRATION Corp increased its stake in Airbnb by 21.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 42,696 shares of the company's stock worth $5,392,000 after purchasing an additional 7,613 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Airbnb during the 2nd quarter worth about $3,070,000. SummitTX Capital L.P. acquired a new stake in Airbnb during the 1st quarter worth about $2,645,000. Finally, West Family Investments Inc. acquired a new stake in Airbnb during the 2nd quarter worth about $880,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Trading Up 4.3%

NASDAQ:ABNB opened at $174.28 on Friday. The stock has a market cap of $104.36 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $193.45. 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's 50-day moving average is $172.96 and its two-hundred day moving average is $151.11.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping 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 net margin of 20.45% and a return on equity of 33.38%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, equities research analysts forecast that Airbnb, Inc. will post 5.28 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 531,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the sale, the insider owned 171,370 shares in the company, valued at $29,888,641.70. This represents a 75.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Chesky sold 200,000 shares of Airbnb stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the sale, the chief executive officer directly owned 10,501,685 shares of the company's stock, valued at $1,835,589,521.15. This trade represents a 1.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,562,961 shares of company stock valued at $271,146,941. Corporate insiders own 27.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ABNB. Cantor Fitzgerald began coverage on shares of Airbnb in a research note on Friday, October 2nd. They set an "overweight" rating for the company. Robert W. Baird lifted their target price on shares of Airbnb from $175.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 8th. TD Cowen raised shares of Airbnb to a "strong-buy" rating in a research report on Monday, September 14th. Evercore set a $200.00 price target on shares of Airbnb in a report on Monday, August 24th. Finally, Susquehanna boosted their price target on shares of Airbnb from $170.00 to $200.00 and gave the company a "positive" rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $181.93.

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel-related experiences with hosts offering homes, apartments, rooms and other lodging options. The company's platform supports booking and managing stays in a wide range of destinations, from major cities to rural and resort areas.

In addition to accommodations, Airbnb offers experiences hosted by local residents, including activities, tours and cultural events. The company has also expanded its platform to include services in select markets, such as offerings related to hospitality, wellness, food and other travel needs.

Want to see what other hedge funds are holding ABNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Airbnb, Inc. (NASDAQ:ABNB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.