Charles Schwab Investment Management Inc. Buys 103,925 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Charles Schwab Investment Management Inc. increased its position in Airbnb by 3.7% in the 1st quarter, owning approximately 0.46% of the company worth around $345.8 million.
• Airbnb's quarterly earnings showed an EPS of $1.03, surpassing estimates and marking a 12.7% revenue growth year-over-year.
• Insider selling activity was notable, with Director Joseph Gebbia selling 236,000 shares, which decreased his ownership by 50%.

Charles Schwab Investment Management Inc. lifted its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,894,569 shares of the company's stock after purchasing an additional 103,925 shares during the period. Charles Schwab Investment Management Inc. owned 0.46% of Airbnb worth $345,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after purchasing an additional 604,120 shares during the last quarter. Northern Trust Corp raised its holdings in Airbnb by 8.4% in the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after acquiring an additional 331,607 shares during the period. Principal Financial Group Inc. raised its holdings in Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after acquiring an additional 1,389,251 shares during the period. Two Sigma Advisers LP raised its holdings in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after acquiring an additional 2,685,026 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total transaction of $826,750.00. Following the transaction, the chief financial officer directly owned 467,611 shares in the company, valued at approximately $61,855,583.08. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the sale, the director directly owned 1,180,015 shares of the company's stock, valued at approximately $164,494,091. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,671,023 shares of company stock worth $223,195,427. Corporate insiders own 27.83% of the company's stock.

Airbnb Stock Up 2.8%

NASDAQ:ABNB traded up $3.31 on Tuesday, reaching $121.61. The stock had a trading volume of 6,105,673 shares, compared to its average volume of 5,334,185. The company has a market capitalization of $76.18 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The stock has a fifty day moving average price of $134.73 and a 200-day moving average price of $130.89.

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

Analyst Ratings Changes

Several brokerages recently commented on ABNB. Wedbush dropped their target price on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Susquehanna dropped their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Piper Sandler dropped their target price on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Morgan Stanley dropped their target price on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Finally, UBS Group dropped their target price on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $142.72.

Airbnb Company 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.