Assenagon Asset Management S.A. Buys 820,887 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Assenagon Asset Management S.A. lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 119.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,506,704 shares of the company's stock after purchasing an additional 820,887 shares during the period. Assenagon Asset Management S.A. owned about 0.24% of Airbnb worth $179,991,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABNB. Norges Bank bought a new stake in shares of Airbnb during the 4th quarter worth $433,374,000. Clearbridge Investments LLC raised its stake in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock worth $571,505,000 after purchasing an additional 2,590,475 shares during the period. Two Sigma Advisers LP raised its stake in shares of Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after purchasing an additional 2,577,000 shares during the period. Principal Financial Group Inc. raised its stake in shares of Airbnb by 174.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company's stock worth $245,268,000 after purchasing an additional 1,185,892 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after purchasing an additional 809,964 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Price Performance

Shares of NASDAQ ABNB traded down $3.27 during midday trading on Friday, hitting $135.54. 5,090,904 shares of the company's stock were exchanged, compared to its average volume of 5,026,253. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a market cap of $84.90 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 3.52 and a beta of 1.14. The business's fifty day moving average price is $126.31 and its two-hundred day moving average price is $130.73.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 38,461 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $126.60, for a total value of $4,869,162.60. Following the completion of the sale, the chief executive officer now owns 11,770,144 shares of the company's stock, valued at $1,490,100,230.40. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $126.00, for a total value of $88,200.00. Following the completion of the sale, the chief technology officer now directly owns 171,419 shares of the company's stock, valued at approximately $21,598,794. This represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,663,033 shares of company stock valued at $208,384,185 over the last quarter. 27.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ABNB. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Hsbc Global Res upgraded Airbnb from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Wedbush cut Airbnb from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $150.00 to $135.00 in a research note on Friday, May 2nd. Gordon Haskett upgraded Airbnb from a "sell" rating to a "hold" rating and set a $143.00 price objective on the stock in a research note on Friday, February 14th. Finally, Tigress Financial boosted their price objective on Airbnb from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.23.

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.