Airbnb, Inc. $ABNB Position Lessened by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Airbnb, Inc. by 40.1% during the second quarter, now owning approximately 0.14% of the company valued at $119.45 million.
• Several large investors increased their positions in Airbnb, with Harris Associates L P leading with an 86.0% increase, bringing their total holdings to 9,944,948 shares worth over $1.18 billion.
• Wall Street analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $141.19 despite recent earnings growth, highlighting ongoing market uncertainty.

Assenagon Asset Management S.A. decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 40.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 902,596 shares of the company's stock after selling 604,108 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Airbnb worth $119,450,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ABNB. Vanguard Group Inc. boosted its position in Airbnb by 1.6% in the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after buying an additional 604,120 shares during the last quarter. Harris Associates L P boosted its position in Airbnb by 86.0% in the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Northern Trust Corp boosted its position in Airbnb by 2.5% in the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock valued at $525,979,000 after buying an additional 106,135 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after acquiring an additional 1,916,676 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after acquiring an additional 1,389,251 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded down $1.60 during trading on Monday, reaching $125.44. The company had a trading volume of 5,527,348 shares, compared to its average volume of 5,244,248. The firm has a market capitalization of $77.95 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The stock's fifty day moving average price is $129.15 and its 200 day moving average price is $127.86. 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 data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping 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 firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. Airbnb's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $138.83, for a total value of $32,763,880.00. Following the transaction, the director owned 472,015 shares in the company, valued at $65,529,842.45. This trade represents a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,437,726 shares of company stock valued at $186,665,593. 27.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABNB. Barclays set a $105.00 price target on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. BNP Paribas raised Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Citizens Jmp raised Airbnb to a "hold" rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group reduced their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Airbnb has an average rating of "Hold" and an average price target of $141.19.

About Airbnb

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.