E Fund Management Co. Ltd. Increases Stake in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• E Fund Management Co. Ltd. has increased its stake in Airbnb, Inc. by 96.6%, purchasing an additional 5,979 shares, bringing its total holdings to 12,168 shares valued at approximately $1.45 million.
• Airbnb reported earnings of $1.03 per share for the last quarter, exceeding analyst expectations, with revenue also surpassing estimates at $3.10 billion.
• Despite recent positive earnings, analysts have varied ratings for Airbnb’s stock, with a consensus rating of "Hold" and an average price target of $142.72.

E Fund Management Co. Ltd. raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 96.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,168 shares of the company's stock after buying an additional 5,979 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Airbnb were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of Airbnb in the fourth quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Airbnb in the fourth quarter worth $28,000. Stonebridge Financial Group LLC lifted its position in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, SouthState Corp lifted its position in shares of Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the sale, the chief technology officer directly owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. This trade represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,671,023 shares of company stock valued at $223,195,427 over the last 90 days. Company insiders own 27.91% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ABNB shares. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. Royal Bank Of Canada upped their target price on Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Zacks Research upgraded Airbnb to a "hold" rating in a research report on Tuesday. Finally, Wedbush decreased their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $142.72.

Airbnb Price Performance

Shares of NASDAQ:ABNB traded up $0.46 during midday trading on Friday, reaching $125.10. 4,307,326 shares of the company's stock were exchanged, compared to its average volume of 5,404,998. The firm's 50 day simple moving average is $133.76 and its two-hundred day simple moving average is $130.70. The stock has a market cap of $77.74 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.28 and a beta of 1.13. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The company's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. Equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb 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.