Ieq Capital LLC Acquires 84,232 Shares of Airbnb, Inc. $ABNB

Key Points

• Ieq Capital LLC increased its holdings in Airbnb by 44.7% during the first quarter, acquiring an additional 84,232 shares, bringing their total to 272,521 shares valued at $32.56 million.
• Institutional investors collectively own 80.76% of Airbnb, with several firms significantly boosting their positions, including Pacer Advisors, which raised holdings by 2,297.4%.
• Airbnb's stock has received mixed ratings from analysts, with the current consensus rating being a "Hold" and a consensus target price of $142.72.

Ieq Capital LLC raised its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 44.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,521 shares of the company's stock after purchasing an additional 84,232 shares during the period. Ieq Capital LLC's holdings in Airbnb were worth $32,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABNB. Pacer Advisors Inc. lifted its holdings in shares of Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after acquiring an additional 2,685,026 shares during the period. Two Sigma Advisers LP increased its position 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 purchasing an additional 2,577,000 shares in the last quarter. Principal Financial Group Inc. increased its position 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 purchasing an additional 1,389,251 shares in the last quarter. Assenagon Asset Management S.A. increased its position in 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 in the last quarter. Finally, AQR Capital Management LLC increased its position in 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 purchasing an additional 809,964 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Analysts Set New Price Targets

ABNB has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their price objective on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Benchmark lowered their price objective on shares of Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. 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. Finally, Zacks Research upgraded shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Airbnb currently has a consensus rating of "Hold" and a consensus target price of $142.72.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction 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 directly owned 944,015 shares of the company's stock, valued at $122,212,181.90. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the transaction, the chief financial officer directly owned 461,361 shares in the company, 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. Insiders sold 1,454,830 shares of company stock valued at $193,751,948 in the last ninety days. Insiders own 27.83% of the company's stock.

Airbnb Stock Down 1.0%

ABNB opened at $126.89 on Wednesday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a fifty day moving average of $132.31 and a 200-day moving average of $130.47. The stock has a market cap of $78.85 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Airbnb'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 EPS for the current fiscal year.

About Airbnb

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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