IFM Investors Pty Ltd Acquires 7,955 Shares of Airbnb, Inc. (NASDAQ:ABNB)

IFM Investors Pty Ltd lifted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,751 shares of the company's stock after acquiring an additional 7,955 shares during the quarter. IFM Investors Pty Ltd's holdings in Airbnb were worth $11,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ABNB. Aster Capital Management DIFC Ltd acquired a new position in Airbnb during the fourth quarter worth $1,445,000. Ritholtz Wealth Management increased its position in Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Airbnb by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after buying an additional 228 shares during the last quarter. EFG Asset Management Americas Corp. acquired a new position in Airbnb during the fourth quarter worth $4,406,000. Finally, Spire Wealth Management increased its position in Airbnb by 40.1% during the first quarter. Spire Wealth Management now owns 909 shares of the company's stock worth $109,000 after buying an additional 260 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the transaction, the chief financial officer directly owned 485,080 shares in the company, valued at $59,873,424.40. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $128.66, for a total transaction of $30,363,760.00. Following the transaction, the director owned 1,416,015 shares in the company, valued at $182,184,489.90. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,607,528 shares of company stock worth $201,688,571 in the last ninety days. Insiders own 27.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ABNB. Royal Bank Of Canada lowered their target price on shares of Airbnb from $160.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Phillip Securities cut shares of Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Citigroup decreased their price target on shares of Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a report on Monday, May 5th. BTIG Research restated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Finally, Evercore ISI reduced their target price on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $141.47.

Airbnb Stock Up 0.2%

ABNB traded up $0.30 during trading on Monday, hitting $136.79. The company had a trading volume of 1,917,235 shares, compared to its average volume of 5,030,858. The company has a market capitalization of $85.68 billion, a PE ratio of 34.49, a PEG ratio of 2.56 and a beta of 1.13. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm's 50-day moving average price is $131.74 and its 200 day moving average price is $130.51.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The firm's quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current 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.