Financial Advisors Network Inc. Increases Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Financial Advisors Network Inc. increased its stock holdings in Airbnb by 144.4% in the first quarter, growing to 49,826 shares worth approximately $5.95 million.
• Institutional investors now own 80.76% of Airbnb’s stock, with several hedge funds significantly increasing their stakes, including a 2,297.4% increase by Pacer Advisors Inc.
• Airbnb's latest earnings report showed $1.03 EPS for the quarter, surpassing analysts' expectations, with revenues of $3.10 billion, a year-over-year increase of 12.7%.

Financial Advisors Network Inc. grew its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 144.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,826 shares of the company's stock after purchasing an additional 29,442 shares during the period. Airbnb comprises about 1.0% of Financial Advisors Network Inc.'s portfolio, making the stock its 22nd biggest position. Financial Advisors Network Inc.'s holdings in Airbnb were worth $5,952,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ABNB. Pacer Advisors Inc. increased its stake in shares of Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after buying an additional 2,685,026 shares during the period. Two Sigma Advisers LP increased its position in shares of Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock worth $179,991,000 after purchasing an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after acquiring an additional 809,964 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Up 0.4%

Shares of ABNB opened at $125.10 on Monday. The stock's 50-day moving average price is $133.76 and its 200 day moving average price is $130.69. The firm has a market capitalization 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 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its 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 business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. Airbnb's revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABNB shares. Zacks Research upgraded shares of Airbnb to a "hold" rating in a report on Tuesday, August 12th. Barclays set a $105.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "underweight" rating and set a $100.00 price objective on shares of Airbnb in a report on Wednesday, May 14th. JMP Securities reissued a "market perform" rating on shares of Airbnb in a report on Friday, May 2nd. Finally, Citizens Jmp raised Airbnb to a "hold" rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $142.72.

Insider Buying and Selling

In other news, CEO Brian Chesky sold 8,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.33, for a total value of $1,026,640.00. Following the sale, the chief executive officer owned 40,800 shares in the company, valued at approximately $5,235,864. The trade was a 16.39% decrease in their position. 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 stock in a transaction dated 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 owned 1,180,015 shares of the company's stock, valued at $164,494,091. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock worth $223,195,427 in the last 90 days. 27.83% of the stock is owned by company insiders.

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.

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