Freedom Investment Management Inc. Makes New Investment in Airbnb, Inc. $ABNB

Key Points

• Freedom Investment Management Inc. has acquired a new stake in Airbnb, Inc., purchasing 6,962 shares valued at approximately $832,000 in the first quarter of the year.
• Notable hedge funds have also increased their stakes in Airbnb, with Vanguard Group Inc. and Principal Financial Group Inc. boosting their holdings substantially during the first quarter.
• Airbnb reported $1.03 EPS for the last quarter, outperforming analysts' expectations and showing a 12.7% year-over-year revenue growth.

Freedom Investment Management Inc. purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,962 shares of the company's stock, valued at approximately $832,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Airbnb by 1.6% during the first quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock worth $4,475,286,000 after purchasing an additional 604,120 shares during the last quarter. Northern Trust Corp lifted its position in shares of Airbnb by 2.5% during the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock worth $525,979,000 after purchasing an additional 106,135 shares during the last quarter. Principal Financial Group Inc. raised its stake in Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after acquiring an additional 1,389,251 shares during the period. Two Sigma Advisers LP lifted its holdings in Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares during the last quarter. Finally, Akre Capital Management LLC lifted its holdings in Airbnb by 10.1% in the first quarter. Akre Capital Management LLC now owns 2,917,733 shares of the company's stock worth $348,552,000 after acquiring an additional 268,335 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the transaction, the director owned 944,015 shares in the company, valued at $122,212,181.90. This trade represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the firm'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 transaction of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,445,355 shares of company stock worth $192,533,558 over the last quarter. 27.91% of the stock is currently owned by company insiders.

Airbnb Stock Performance

Shares of ABNB traded up $0.61 during mid-day trading on Thursday, reaching $130.46. 3,655,399 shares of the company's stock traded hands, compared to its average volume of 5,781,291. The business's 50-day moving average price is $132.23 and its 200-day moving average price is $130.43. The stock has a market capitalization of $81.07 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.37 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

ABNB has been the topic of a number of research reports. Susquehanna dropped their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research report on Monday, May 5th. UBS Group dropped their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group dropped their price target on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wedbush dropped their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Evercore ISI dropped their price target on Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Two investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $142.72.

Airbnb Company 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.