Empowered Funds LLC Increases Holdings in Airbnb, Inc. $ABNB

Key Points

• Empowered Funds increased its Airbnb stake by 46.9% in the first quarter, adding 45,795 shares to hold 143,352 shares worth approximately $18.1 million. Institutional investors collectively own 80.76% of Airbnb.
• Airbnb reported quarterly revenue of $2.68 billion, up 17.9% year over year, but earnings of $0.26 per share missed analysts’ $0.31 estimate.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $160.23; however, insiders sold $310.5 million of shares over the past 90 days.

Empowered Funds LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 46.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143,352 shares of the company's stock after purchasing an additional 45,795 shares during the quarter. Empowered Funds LLC's holdings in Airbnb were worth $18,102,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. North Dakota State Investment Board purchased a new position in shares of Airbnb during the 4th quarter valued at $2,785,000. Merit Financial Group LLC increased its holdings in shares of Airbnb by 72.1% in the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company's stock worth $4,478,000 after purchasing an additional 13,818 shares during the period. North Star Asset Management Inc. raised its position in shares of Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company's stock worth $10,663,000 after buying an additional 9,294 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Airbnb by 18.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company's stock worth $30,305,000 after buying an additional 34,573 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its stake in Airbnb by 122.9% during the fourth quarter. Oxbow Advisors LLC now owns 50,414 shares of the company's stock valued at $6,842,000 after buying an additional 27,793 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Buying and Selling at Airbnb

In related news, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $148.01, for a total value of $555,037.50. Following the transaction, the chief financial officer owned 445,290 shares in the company, valued at $65,907,372.90. This trade represents a 0.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 13,615 shares of the business's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $145.43, for a total transaction of $1,980,029.45. Following the completion of the sale, the insider directly owned 12,370 shares of the company's stock, valued at $1,798,969.10. This represents a 52.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,245,479 shares of company stock worth $310,454,308 over the last 90 days. Company insiders own 27.21% of the company's stock.

Airbnb Stock Performance

NASDAQ:ABNB opened at $153.11 on Wednesday. The company has a market capitalization of $92.28 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 1.57 and a beta of 1.14. The business has a 50 day moving average of $140.53 and a 200 day moving average of $134.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $153.19.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm's revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, sell-side analysts predict that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group boosted their target price on Airbnb from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Wells Fargo & Company raised their price target on Airbnb from $178.00 to $181.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Raymond James Financial upgraded Airbnb from a "market perform" rating to a "strong-buy" rating in a research report on Monday, May 4th. Scotiabank began coverage on Airbnb in a report on Monday, May 4th. They set an "outperform" rating for the company. Finally, Weiss Ratings upgraded shares of Airbnb from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.23.

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.

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