Asset Management One Co. Ltd. Purchases 29,274 Shares of Airbnb, Inc. $ABNB

Key Points

• Asset Management One Co. Ltd. increased its stake in Airbnb by 14.5%, acquiring an additional 29,274 shares, bringing its total holdings to 231,028 shares worth approximately $30.57 million.
• Airbnb reported earnings of $1.03 per share for the last quarter, exceeding the consensus estimate by $0.11, with revenues reaching $3.10 billion, a 12.7% increase year-over-year.
• Insider activity indicates significant share sales, with Director Joseph Gebbia selling 236,000 shares valued at approximately $29.58 million, reflecting a notable reduction in ownership.

Asset Management One Co. Ltd. lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,028 shares of the company's stock after purchasing an additional 29,274 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Airbnb were worth $30,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Airbnb by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company's stock worth $604,000 after acquiring an additional 78 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Airbnb by 12.2% during the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after acquiring an additional 80 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of Airbnb by 4.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after acquiring an additional 83 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock worth $26,000 after acquiring an additional 83 shares during the period. Finally, Trivium Point Advisory LLC increased its position in Airbnb by 3.0% during the 1st quarter. Trivium Point Advisory LLC now owns 3,408 shares of the company's stock worth $407,000 after purchasing an additional 99 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

Airbnb stock opened at $127.99 on Friday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market cap of $79.54 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The firm's 50-day simple moving average is $124.48 and its 200 day simple moving average is $127.84.

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

Wall Street Analyst Weigh In

ABNB has been the subject of a number of research analyst reports. Wedbush lowered their price objective on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Citizens Jmp upgraded shares of Airbnb to a "hold" rating in a research report on Monday, August 11th. Royal Bank Of Canada upped their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Mizuho initiated coverage on shares of Airbnb in a research report on Monday, September 29th. They set an "outperform" rating and a $151.00 price objective for the company. Finally, Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $141.70.

Insider Activity

In related news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at approximately $22,850,752.80. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the transaction, the director owned 15 shares in the company, valued at approximately $1,880.40. This trade represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,425,876 shares of company stock valued at $177,336,982 in the last three months. 27.91% of the stock is owned by company insiders.

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.

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