Assetmark Inc. Has $21.67 Million Stock Position in Airbnb, Inc. $ABNB

Key Points

• Assetmark Inc. increased its Airbnb stake by 13.7% in the first quarter, ending with 171,602 shares valued at about $21.67 million.
• Several other institutional investors also boosted or initiated positions, and hedge funds now own 80.76% of Airbnb’s stock, showing continued institutional interest.
• Analysts remain broadly positive: the consensus rating is “Moderate Buy” with an average target price of $159.84, while recent earnings guidance and analyst notes point to expectations for further growth despite some insider selling.

Assetmark Inc. grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 13.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,602 shares of the company's stock after acquiring an additional 20,725 shares during the quarter. Assetmark Inc.'s holdings in Airbnb were worth $21,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ABNB. Caxton Associates LLP acquired a new stake in shares of Airbnb during the 1st quarter worth approximately $258,000. Intech Investment Management LLC raised its stake in shares of Airbnb by 55.8% in the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company's stock valued at $1,453,000 after purchasing an additional 4,353 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Airbnb by 18.8% in the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company's stock worth $776,000 after purchasing an additional 927 shares during the period. WINTON GROUP Ltd acquired a new stake in Airbnb during the second quarter worth $411,000. Finally, NewEdge Advisors LLC raised its stake in shares of Airbnb by 9.8% in the 2nd quarter. NewEdge Advisors LLC now owns 54,054 shares of the company's stock valued at $7,153,000 after buying an additional 4,811 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Buying and Selling

In other news, insider Nathan Blecharczyk sold 13,615 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the transaction, the insider directly owned 81,677 shares in the company, valued at $12,118,416.49. The trade was a 14.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth I. Chenault sold 8,346 shares of Airbnb stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $150.00, for a total value of $1,251,900.00. Following the transaction, the director owned 40,879 shares of the company's stock, valued at $6,131,850. This represents a 16.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,325,429 shares of company stock worth $321,925,435 in the last three months. Insiders own 27.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Airbnb from $153.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Royal Bank Of Canada restated an "outperform" rating and set a $173.00 price target on shares of Airbnb in a research note on Thursday, May 21st. Citigroup reaffirmed an "outperform" rating on shares of Airbnb in a report on Friday, May 8th. Susquehanna increased their target price on Airbnb from $150.00 to $170.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Finally, Weiss Ratings raised Airbnb from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Airbnb currently has a consensus rating of "Moderate Buy" and an average target price of $159.84.

Airbnb News Roundup

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Wedbush initiated coverage with a neutral rating and a $152 price target, implying modest upside from recent levels and signaling that analysts still see value in the shares. Article link
• Positive Sentiment: Jefferies reaffirmed its buy rating on Airbnb, supporting the view that Wall Street remains constructive on the company’s longer-term growth outlook. Article link
• Neutral Sentiment: Investors are watching Airbnb’s upcoming fiscal second-quarter earnings report, with analysts expecting double-digit earnings growth; results will likely determine whether the stock can extend recent momentum. Article link
• Neutral Sentiment: Airbnb co-founder Joseph Gebbia sold about $39 million in stock under a pre-arranged 10b5-1 plan. While not necessarily a bearish signal, insider selling can create some investor caution. Article link
• Negative Sentiment: CEO Brian Chesky’s X account was reportedly hacked and used to promote crypto tokenization posts. The incident does not directly affect fundamentals, but it is a reputational and security-related distraction for the company. Article link

Airbnb Stock Performance

Shares of Airbnb stock opened at $145.98 on Friday. The company has a market capitalization of $87.98 billion, a PE ratio of 35.96, a PEG ratio of 1.57 and a beta of 1.14. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $150.88. The stock's fifty day simple moving average is $139.13 and its 200 day simple moving average is $134.42.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.Airbnb's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, research analysts predict that Airbnb, Inc. will post 4.92 EPS for the current year.

Airbnb Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.