LGT Group Foundation Has $82.36 Million Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• LGT Group Foundation increased its stake in Airbnb by 71.9%, acquiring an additional 288,339 shares to hold a total of 689,413 shares, which now represents 1.1% of their portfolio.
• Airbnb shares saw a price of $118.30 with a 52-week range between $99.88 and $163.93, while the company has an average target price of $142.72 with a consensus rating of "Hold."
• In the latest quarterly earnings report, Airbnb posted an EPS of $1.03, exceeding analyst estimates, with a revenue of $3.10 billion representing a 12.7% year-over-year increase.

LGT Group Foundation raised its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 71.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,413 shares of the company's stock after purchasing an additional 288,339 shares during the quarter. Airbnb makes up approximately 1.1% of LGT Group Foundation's holdings, making the stock its 22nd biggest position. LGT Group Foundation owned about 0.11% of Airbnb worth $82,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in shares of Airbnb during the 4th quarter worth about $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC boosted its stake in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after acquiring an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after acquiring an additional 174 shares in the last quarter. Finally, SouthState Corp boosted its stake in shares of Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

Shares of ABNB traded up $0.09 during mid-day trading on Thursday, reaching $124.64. The company had a trading volume of 4,706,287 shares, compared to its average volume of 5,344,448. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company's 50-day moving average is $134.07 and its 200-day moving average is $130.75. The company has a market capitalization of $78.08 billion, a P/E ratio of 30.18, a P/E/G ratio of 2.27 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the prior year, the firm posted $0.86 EPS. Airbnb's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABNB. B. Riley decreased their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. BNP Paribas upgraded Airbnb to a "hold" rating in a research note on Wednesday, July 16th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. UBS Group cut their price objective on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Finally, Susquehanna cut their price objective on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research report on Monday, May 5th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $142.72.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer directly owned 461,361 shares in the company, valued at $62,680,505.46. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $129.71, for a total value of $30,611,560.00. Following the sale, the director owned 236,015 shares in the company, valued at approximately $30,613,505.65. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,671,023 shares of company stock valued at $223,195,427 in the last 90 days. Insiders own 27.91% of the company's stock.

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.