Allstate Corp Raises Holdings in Airbnb, Inc. $ABNB

Key Points

• Allstate Corp significantly increased its Airbnb stake in the fourth quarter, boosting holdings by 104.6% to 33,603 shares valued at about $4.56 million.
• Wall Street sentiment is mostly positive, with several analysts raising price targets and MarketBeat showing a consensus rating of “Moderate Buy” with a $157.67 average target price.
• Airbnb reported mixed quarterly results, missing EPS estimates at $0.26 but beating revenue expectations with $2.68 billion in sales, up 17.9% year over year.

Allstate Corp boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 104.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,603 shares of the company's stock after purchasing an additional 17,183 shares during the period. Allstate Corp's holdings in Airbnb were worth $4,561,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company's stock valued at $26,000 after purchasing an additional 96 shares during the period. Entrust Financial LLC purchased a new position in shares of Airbnb during the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Airbnb during the 3rd quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new position in shares of Airbnb during the 4th quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company's stock worth $27,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of research analyst reports. UBS Group upped their target price on Airbnb from $153.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on Airbnb from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Oppenheimer upgraded Airbnb from a "market perform" rating to an "outperform" rating and set a $180.00 target price on the stock in a report on Monday, May 4th. Benchmark upped their target price on Airbnb from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Rodman & Renshaw initiated coverage on Airbnb in a report on Monday, May 4th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $157.67.

Insider Buying and Selling at Airbnb

In other news, Director Joseph Gebbia sold 54,000 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $134.86, for a total value of $7,282,440.00. Following the transaction, the director directly owned 15 shares in the company, valued at $2,022.90. This trade represents a 99.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 3,750 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $143.00, for a total value of $536,250.00. Following the completion of the transaction, the chief financial officer owned 463,415 shares in the company, valued at approximately $66,268,345. This trade represents a 0.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 454,317 shares of company stock worth $62,219,594. Insiders own 27.21% of the company's stock.

Airbnb Stock Performance

Airbnb stock opened at $132.68 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $79.97 billion, a P/E ratio of 32.68, a PEG ratio of 1.42 and a beta of 1.20. The stock's 50 day moving average is $133.76 and its 200 day moving average is $130.00. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $147.25.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The business's quarterly revenue was up 17.9% on a year-over-year basis. On average, equities research analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

About Airbnb

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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