Madison Asset Management LLC Invests $45.26 Million in Airbnb, Inc. $ABNB

Key Points

• Madison Asset Management initiated a $45.26 million Airbnb position, purchasing 316,309 shares and owning approximately 0.05% of the company. Institutional investors collectively hold 80.76% of Airbnb’s stock.
• Analysts maintain a generally positive outlook, with Airbnb receiving a “Moderate Buy” consensus rating and an average price target of $172; Wedbush raised its target to $200 and upgraded the stock to “outperform.”
• Airbnb exceeded quarterly expectations, reporting $1.37 in EPS and $3.61 billion in revenue, up 16.3% year over year. However, insiders sold more than 3.1 million shares worth approximately $461.5 million over the past 90 days.

Madison Asset Management LLC bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 316,309 shares of the company's stock, valued at approximately $45,264,000. Madison Asset Management LLC owned about 0.05% of Airbnb as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ABNB. Transamerica Financial Advisors LLC boosted its holdings in shares of Airbnb by 143.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company's stock valued at $26,000 after purchasing an additional 112 shares during the last quarter. Entrust Financial LLC purchased a new position in shares of Airbnb during the fourth quarter valued at about $27,000. Meeder Asset Management Inc. grew its position in shares of Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company's stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Airbnb by 397.7% in the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Finally, Wiser Advisor Group LLC bought a new stake in shares of Airbnb in the third quarter worth about $27,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on ABNB shares. Truist Financial increased their price target on Airbnb from $129.00 to $134.00 and gave the company a "hold" rating in a research note on Friday, June 12th. Needham & Company LLC started coverage on Airbnb in a research note on Monday, May 4th. They issued a "buy" rating on the stock. B. Riley Financial reaffirmed a "buy" rating on shares of Airbnb in a report on Friday, August 7th. Wedbush upgraded Airbnb from a "neutral" rating to an "outperform" rating and increased their target price for the company from $152.00 to $200.00 in a research report on Friday, August 7th. Finally, UBS Group raised their target price on shares of Airbnb from $163.00 to $172.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Airbnb has an average rating of "Moderate Buy" and a consensus price target of $172.00.

Insider Transactions at Airbnb

In related news, CEO Brian Chesky sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $173.61, for a total transaction of $3,472,200.00. Following the completion of the sale, the chief executive officer directly owned 5,854 shares of the company's stock, valued at approximately $1,016,312.94. This trade represents a 77.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth I. Chenault sold 8,346 shares of Airbnb stock in a transaction on Friday, August 7th. The stock was sold at an average price of $170.00, for a total value of $1,418,820.00. Following the sale, the director owned 40,879 shares of the company's stock, valued at approximately $6,949,430. This trade represents a 16.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,121,551 shares of company stock valued at $461,483,447. Company insiders own 27.21% of the company's stock.

Airbnb Price Performance

Airbnb stock opened at $186.39 on Thursday. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $189.20. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $151.98 and a 200-day moving average price of $138.77. The firm has a market capitalization of $111.61 billion, a PE ratio of 42.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. As a group, equities research analysts forecast that Airbnb, Inc. will post 5.22 EPS for the current year.

Airbnb Company Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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