Focus Partners Advisor Solutions LLC Boosts Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Focus Partners Advisor Solutions LLC significantly increased its stake in Airbnb, Inc. by 547.9% in the first quarter, owning a total of 10,548 shares valued at approximately $1.26 million.
• Institutional ownership of Airbnb stock remains strong, with major increases from firms like Harris Associates L P and Pacer Advisors Inc., contributing to the fact that 80.76% of the stock is owned by institutional investors.
• Airbnb's stock opened at $127.59 with a market cap of $79.29 billion, despite recent analyst reports adjusting price targets and ratings, reflecting mixed sentiments about the company's growth potential.

Focus Partners Advisor Solutions LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 547.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,548 shares of the company's stock after purchasing an additional 8,920 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Airbnb were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Vanguard Group Inc. raised its stake in Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after buying an additional 604,120 shares during the period. Harris Associates L P raised its stake in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after buying an additional 4,598,125 shares during the period. Northern Trust Corp raised its stake in Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after buying an additional 106,135 shares during the period. Principal Financial Group Inc. raised its stake in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after buying an additional 1,389,251 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after buying an additional 2,577,000 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the transaction, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the transaction, the chief financial officer directly owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,438,926 shares of company stock valued at $188,880,433. Insiders own 27.83% of the company's stock.

Airbnb Trading Up 0.9%

Shares of ABNB stock traded up $1.11 during trading on Monday, hitting $124.92. The company's stock had a trading volume of 1,629,802 shares, compared to its average volume of 5,219,169. The company has a market cap of $77.63 billion, a PE ratio of 30.23, a P/E/G ratio of 2.26 and a beta of 1.13. The business has a fifty day moving average of $131.64 and a 200-day moving average of $129.11. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The company 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 quarterly 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. As a group, research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

ABNB has been the topic of a number of research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Zacks Research raised Airbnb to a "hold" rating in a research note on Tuesday, August 12th. BMO Capital Markets set a $124.00 price target on Airbnb and gave the stock a "market perform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Citizens Jmp raised Airbnb to a "hold" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and an average price target of $142.66.

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.