Airbnb, Inc. (NASDAQ:ABNB) Position Raised by Investidor Profissional Gestao de Recursos Ltda.

Key Points

• Investidor Profissional Gestao de Recursos Ltda. increased its holdings in Airbnb by 64.1%, owning 50,956 shares worth approximately $6.1 million, making it the eighth largest position in their portfolio.
• Several institutional investors significantly boosted their stakes in Airbnb, with Pacer Advisors increasing its investment by 2,297.4%, now holding shares worth $334.7 million.
• Airbnb's stock is currently trading at $130.96, with analysts rating it primarily as a "Hold" and an average target price of $142.10.

Investidor Profissional Gestao de Recursos Ltda. boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 64.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,956 shares of the company's stock after acquiring an additional 19,907 shares during the period. Airbnb accounts for 3.9% of Investidor Profissional Gestao de Recursos Ltda.'s portfolio, making the stock its 8th largest holding. Investidor Profissional Gestao de Recursos Ltda.'s holdings in Airbnb were worth $6,087,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in Airbnb by 8.4% in the fourth quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock worth $564,647,000 after purchasing an additional 331,607 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Airbnb by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after purchasing an additional 558,856 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Two Sigma Advisers LP boosted its position in Airbnb by 512.0% in 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. Finally, Pacer Advisors Inc. grew its position in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after buying an additional 2,685,026 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the transaction, the director directly owned 236,015 shares in the company, valued at approximately $30,613,505.65. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,671,023 shares of company stock valued at $223,195,427. Corporate insiders own 27.91% of the company's stock.

Airbnb Trading Down 8.0%

Shares of NASDAQ:ABNB traded down $10.47 during midday trading on Thursday, reaching $120.03. The company had a trading volume of 17,491,473 shares, compared to its average volume of 4,167,152. The stock has a market cap of $75.19 billion, a P/E ratio of 29.06, a P/E/G ratio of 2.43 and a beta of 1.13. The company's 50 day moving average price is $135.10 and its 200 day moving average price is $131.06. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 31.71%. Airbnb's revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. Research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABNB shares. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Piper Sandler cut their price objective on shares of Airbnb from $145.00 to $132.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. BMO Capital Markets set a $124.00 price target on Airbnb and gave the company a "market perform" rating in a research note on Thursday. JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Finally, Phillip Securities downgraded shares of Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $141.80.

Airbnb Company 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.