Flossbach Von Storch SE Purchases New Stake in Airbnb, Inc. $ABNB

Key Points

• Flossbach Von Storch SE acquired 46,684 Airbnb shares in the second quarter, worth approximately $6.68 million. Institutional investors collectively own 80.76% of Airbnb’s stock.
• Airbnb reported quarterly EPS of $1.37, beating estimates of $1.26, while revenue rose 16.3% year over year to $3.61 billion. Shares recently traded at $186.39, near their 52-week high.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $172, although insiders sold more than 3.1 million shares worth approximately $461.5 million over the past 90 days.

Flossbach Von Storch SE acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 46,684 shares of the company's stock, valued at approximately $6,680,000.

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

Airbnb Trading Up 1.7%

Shares of ABNB stock opened at $186.39 on Thursday. The stock has a 50-day simple moving average of $151.98 and a 200 day simple moving average of $138.77. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $189.20. The stock has a market capitalization of $111.61 billion, a P/E ratio of 42.36, a P/E/G ratio of 2.12 and a beta of 1.14. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. On average, sell-side analysts expect that Airbnb, Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 13,615 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $182.86, for a total value of $2,489,638.90. Following the completion of the transaction, the insider owned 24,194 shares in the company, valued at $4,424,114.84. This trade represents a 36.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 265,000 shares of the company's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $145.70, for a total transaction of $38,610,500.00. Following the sale, the director directly owned 1,828,518 shares of the company's stock, valued at $266,415,072.60. This represents a 12.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,121,551 shares of company stock valued at $461,483,447 over the last 90 days. 27.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABNB. Rodman & Renshaw started coverage on shares of Airbnb in a research report on Monday, May 4th. They issued a "buy" rating on the stock. Morgan Stanley raised their target price on shares of Airbnb from $120.00 to $125.00 and gave the stock an "underweight" rating in a report on Thursday, July 30th. Raymond James Financial upgraded Airbnb from a "market perform" rating to a "strong-buy" rating in a research note on Monday, May 4th. Truist Financial upped their target price on Airbnb from $129.00 to $134.00 and gave the company a "hold" rating in a report on Friday, June 12th. Finally, DA Davidson increased their price target on Airbnb from $162.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Airbnb currently has an average rating of "Moderate Buy" and an average price target of $172.00.

About Airbnb

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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