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

IFM Investors Pty Ltd boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Airbnb during the fourth quarter valued at about $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb during the fourth quarter worth about $28,000. Graney & King LLC purchased a new stake in shares of Airbnb during the fourth quarter worth about $32,000. Stonebridge Financial Group LLC grew its stake in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after acquiring an additional 106 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB traded up $1.11 during trading hours on Friday, reaching $136.50. The company had a trading volume of 2,628,584 shares, compared to its average volume of 5,042,851. The firm has a market cap of $85.50 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13. The business's 50 day moving average price is $131.74 and its 200-day moving average price is $130.51. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

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

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the transaction, the chief financial officer directly owned 485,080 shares of the company's stock, valued at $59,873,424.40. This represents a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $128.33, for a total value of $1,026,640.00. Following the transaction, the chief executive officer directly owned 40,800 shares of the company's stock, valued at approximately $5,235,864. The trade was a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,607,528 shares of company stock valued at $201,688,571 in the last three months. 27.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABNB. Jefferies Financial Group upgraded Airbnb from a "hold" rating to a "buy" rating and boosted their price target for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. JMP Securities restated a "market perform" rating on shares of Airbnb in a research note on Friday, May 2nd. Susquehanna dropped their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $141.23.

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.