ARK Investment Management LLC Invests $8.54 Million in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• ARK Investment Management LLC invested approximately $8.54 million in Airbnb, acquiring 71,508 shares in the first quarter, as reported in their 13F filing with the SEC.
• Airbnb's recent earnings report revealed earnings per share of $0.24, slightly missing analysts' expectations, while revenue reached $2.27 billion, exceeding forecasts.
• Currently, about 80.76% of Airbnb's stock is held by institutional investors and hedge funds, with the stock rating averaging "Hold" among analysts.

ARK Investment Management LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 71,508 shares of the company's stock, valued at approximately $8,542,000.

A number of other institutional investors and hedge funds have also modified their holdings of ABNB. Park Square Financial Group LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $26,000. Orion Capital Management LLC acquired a new position in Airbnb during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC raised its stake in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Finally, BankPlus Trust Department acquired a new position in Airbnb during the 1st quarter valued at $43,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $141.31 on Friday. The company has a market capitalization of $88.52 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 2.64 and a beta of 1.13. The firm's 50 day simple moving average is $134.66 and its 200 day simple moving average is $131.04. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several research analyst reports. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Benchmark lowered their price target on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wedbush lowered shares of Airbnb from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $150.00 to $135.00 in a report on Friday, May 2nd. B. Riley lowered their price target on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, UBS Group lowered their price target on shares of Airbnb from $160.00 to $138.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $141.50.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer directly owned 461,361 shares in the company, valued at approximately $62,680,505.46. This trade represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $137.58, for a total transaction of $82,548.00. Following the sale, the chief technology officer owned 210,377 shares in the company, valued at $28,943,667.66. This trade represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,650,658 shares of company stock worth $218,970,735. Company insiders own 27.91% of the company's stock.

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.

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