Harris Associates L P Has $1.19 Billion Position in Airbnb, Inc. $ABNB

Key Points

• Harris Associates L P significantly increased its holdings in Airbnb, Inc. by 86% in the 1st quarter, owning nearly 10 million shares worth approximately $1.19 billion.
• Airbnb's stock is currently about 80.76% owned by institutional investors, indicating strong institutional interest in the company.
• Despite strong earnings, analysts have mixed views with price targets ranging from $105 to $145, suggesting a cautious outlook on future growth.

Harris Associates L P increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 86.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,944,948 shares of the company's stock after buying an additional 4,598,125 shares during the quarter. Airbnb accounts for about 2.0% of Harris Associates L P's investment portfolio, making the stock its 18th largest position. Harris Associates L P owned 1.58% of Airbnb worth $1,188,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ABNB. Pacer Advisors Inc. raised its position in Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. Two Sigma Advisers LP increased 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 valued at $404,782,000 after purchasing an additional 2,577,000 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Airbnb by 74.4% in the first 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 during the last quarter. Consulta Ltd bought a new stake in Airbnb in the first quarter valued at about $149,325,000. Finally, Assenagon Asset Management S.A. increased its holdings in Airbnb by 119.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock valued at $179,991,000 after purchasing an additional 820,887 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Analyst Ratings Changes

ABNB has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their target price on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research note on Monday, August 11th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. BMO Capital Markets set a $124.00 price target on Airbnb and gave the company a "market perform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price target on Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $142.66.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 2,246 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $127.53, for a total value of $30,097,080.00. Following the transaction, the director directly owned 1,412,015 shares in the company, valued at $180,074,272.95. The trade was a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,674,926 shares of company stock worth $221,778,833 over the last 90 days. 27.91% of the stock is currently owned by company insiders.

Airbnb Price Performance

Airbnb stock traded down $1.56 during mid-day trading on Friday, reaching $123.81. 4,325,670 shares of the company were exchanged, compared to its average volume of 5,243,051. The company has a fifty day simple moving average of $131.85 and a 200-day simple moving average of $129.74. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The firm has a market cap of $76.94 billion, a PE ratio of 29.98, a PEG ratio of 2.28 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly 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. 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 analyst estimates of $3.02 billion. During the same quarter last year, the company posted $0.86 EPS. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.