Airbnb, Inc. $ABNB Shares Acquired by Akre Capital Management LLC

Key Points

• Akre Capital Management LLC increased its stake in Airbnb by 10.1%, owning approximately 2.9 million shares, which constitutes about 3.4% of its total holdings.
• Airbnb's stock price has a 12 month low of $99.88 and a high of $163.93, with a current market cap of $77.74 billion and a price-to-earnings ratio of 30.29.
• Institutional investors own 80.76% of Airbnb's stock, indicating strong institutional confidence in the company.

Akre Capital Management LLC raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,917,733 shares of the company's stock after acquiring an additional 268,335 shares during the quarter. Airbnb makes up about 3.4% of Akre Capital Management LLC's holdings, making the stock its 11th largest holding. Akre Capital Management LLC owned 0.46% of Airbnb worth $348,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABNB. Mariner LLC raised its holdings in shares of Airbnb by 0.7% during the fourth quarter. Mariner LLC now owns 49,203 shares of the company's stock valued at $6,466,000 after acquiring an additional 325 shares during the last quarter. Capital International Sarl increased its holdings in shares of Airbnb by 7.0% in the fourth quarter. Capital International Sarl now owns 117,260 shares of the company's stock valued at $15,409,000 after purchasing an additional 7,646 shares during the last quarter. Capital Group Investment Management PTE. LTD. increased its holdings in shares of Airbnb by 2.1% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 17,533 shares of the company's stock valued at $2,304,000 after purchasing an additional 369 shares during the last quarter. Capital International Ltd. CA increased its holdings in shares of Airbnb by 2.0% in the fourth quarter. Capital International Ltd. CA now owns 81,847 shares of the company's stock valued at $10,756,000 after purchasing an additional 1,573 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Airbnb by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 812,476 shares of the company's stock valued at $106,769,000 after purchasing an additional 17,620 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, August 4th. The stock was sold at an average price of $129.71, for a total value of $30,611,560.00. Following the completion of the sale, the director directly owned 236,015 shares of the company's stock, valued at approximately $30,613,505.65. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,454,493 shares of company stock valued at $194,497,481. Corporate insiders own 27.83% of the company's stock.

Airbnb Stock Down 0.9%

NASDAQ:ABNB traded down $1.0860 on Wednesday, reaching $124.9140. The company's stock had a trading volume of 3,460,605 shares, compared to its average volume of 5,299,605. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The firm has a market cap of $77.63 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.29 and a beta of 1.13. The stock has a 50 day moving average price of $133.24 and a 200 day moving average price of $130.62.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company's revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup cut their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a report on Monday, May 5th. UBS Group cut 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Finally, Piper Sandler cut their price target on Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $142.72.

Airbnb 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.