Invenomic Capital Management LP Has $14.19 Million Position in Airbnb, Inc. $ABNB

Key Points

• Invenomic Capital Management LP significantly increased its stake in Airbnb by 59.2%, owning 118,757 shares worth approximately $14.19 million as of its recent SEC filing.
• Insider trading was notable with the Chief Financial Officer selling 4,630 shares for about $594,584, indicating a 1.03% decrease in their ownership, while other insiders sold shares totaling over $221 million in the last quarter.
• Airbnb's recent earnings report showed a growth in revenue to $3.10 billion for the quarter, surpassing expectations with earnings per share at $1.03, which is an increase from $0.86 the previous year.

Invenomic Capital Management LP increased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 59.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,757 shares of the company's stock after purchasing an additional 44,141 shares during the quarter. Invenomic Capital Management LP's holdings in Airbnb were worth $14,187,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. MJP Associates Inc. ADV raised its position in shares of Airbnb by 1.8% in the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock valued at $490,000 after buying an additional 67 shares in the last quarter. Ellevest Inc. increased its holdings in Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. boosted its position in Airbnb by 12.2% during the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after purchasing an additional 80 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock valued at $237,000 after acquiring an additional 83 shares during the period. Finally, Rakuten Securities Inc. lifted its position in Airbnb by 31.6% during the first quarter. Rakuten Securities Inc. now owns 379 shares of the company's stock valued at $45,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 4,630 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at $57,027,469.40. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,674,926 shares of company stock worth $221,778,833 over the last quarter. Insiders own 27.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ABNB shares. UBS Group reduced their price objective on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. BNP Paribas raised shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Jefferies Financial Group decreased their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, August 11th. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company set a $110.00 price target on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $142.66.

Airbnb Trading Up 0.4%

NASDAQ:ABNB opened at $125.37 on Friday. The stock's 50 day simple moving average is $131.85 and its 200-day simple moving average is $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 $77.91 billion, a P/E ratio of 30.36, a PEG ratio of 2.28 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results 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. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb 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.

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