IFM Investors Pty Ltd Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

IFM Investors Pty Ltd raised its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,751 shares of the company's stock after purchasing an additional 7,955 shares during the quarter. IFM Investors Pty Ltd's holdings in Airbnb were worth $11,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ABNB. Jones Financial Companies Lllp grew its stake in Airbnb by 43.0% in the fourth quarter. Jones Financial Companies Lllp now owns 7,166 shares of the company's stock valued at $942,000 after purchasing an additional 2,155 shares in the last quarter. Assetmark Inc. grew its stake in Airbnb by 7.4% in the fourth quarter. Assetmark Inc. now owns 53,691 shares of the company's stock valued at $7,056,000 after purchasing an additional 3,697 shares in the last quarter. Atria Investments Inc grew its stake in Airbnb by 19.9% in the fourth quarter. Atria Investments Inc now owns 47,532 shares of the company's stock valued at $6,246,000 after purchasing an additional 7,894 shares in the last quarter. M&T Bank Corp grew its stake in Airbnb by 12.9% in the fourth quarter. M&T Bank Corp now owns 17,045 shares of the company's stock valued at $2,240,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in Airbnb by 2.6% in the fourth quarter. Proficio Capital Partners LLC now owns 12,069 shares of the company's stock valued at $1,586,000 after purchasing an additional 308 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.33, for a total value of $78,198.00. Following the sale, the chief technology officer owned 212,177 shares in the company, valued at approximately $27,653,028.41. The trade was a 0.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total value of $826,750.00. Following the completion of the sale, the chief financial officer owned 467,611 shares in the company, valued at $61,855,583.08. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,607,528 shares of company stock worth $201,688,571. Corporate insiders own 27.83% of the company's stock.

Airbnb Trading Up 0.4%

ABNB traded up $0.51 on Monday, reaching $137.00. The stock had a trading volume of 3,549,800 shares, compared to its average volume of 5,036,880. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a 50-day moving average of $132.01 and a 200-day moving average of $130.53. The company has a market capitalization of $85.82 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABNB. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Phillip Securities downgraded Airbnb from a "hold" rating to a "moderate sell" rating in a research note on Friday, May 9th. Canaccord Genuity Group reduced their target price on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Barclays reduced their price target on Airbnb from $120.00 to $103.00 and set an "underweight" rating for the company in a research note on Friday, May 2nd. Finally, Susquehanna dropped their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a report on Monday, May 5th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $141.47.

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.