Massachusetts Financial Services Co. MA Invests $184.95 Million in Airbnb, Inc. $ABNB

Key Points

• Massachusetts Financial Services Co. bought 1,362,694 shares of Airbnb in Q4, a new stake valued at approximately $184.95 million (about 0.22% of the company).
• Airbnb reported Q4 revenue of $2.78 billion (beat) but an EPS miss of $0.56 vs. $0.66 expected; analysts' consensus is an average rating of Hold with a $149.40 average price target.
• Insiders sold 363,510 shares (~$46.45 million) in the last three months, while institutional investors own about 80.76% of the stock.

Massachusetts Financial Services Co. MA purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,362,694 shares of the company's stock, valued at approximately $184,945,000. Massachusetts Financial Services Co. MA owned about 0.22% of Airbnb as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Venturi Wealth Management LLC increased its stake in shares of Airbnb by 32.2% during the 4th quarter. Venturi Wealth Management LLC now owns 2,533 shares of the company's stock worth $344,000 after purchasing an additional 617 shares during the last quarter. DDD Partners LLC increased its stake in shares of Airbnb by 11.4% during the 4th quarter. DDD Partners LLC now owns 2,492 shares of the company's stock worth $338,000 after purchasing an additional 255 shares during the last quarter. BOCHK Asset Management Ltd purchased a new stake in shares of Airbnb during the 4th quarter worth approximately $1,031,000. Yoder Wealth Management Inc. boosted its holdings in Airbnb by 0.3% in the 4th quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company's stock worth $3,582,000 after buying an additional 84 shares during the period. Finally, Jackson Thornton Wealth Management LLC boosted its holdings in Airbnb by 15.1% in the 4th quarter. Jackson Thornton Wealth Management LLC now owns 5,922 shares of the company's stock worth $817,000 after buying an additional 776 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ABNB shares. Wells Fargo & Company raised their price objective on shares of Airbnb from $133.00 to $136.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Airbnb in a report on Wednesday, January 21st. Citizens Jmp raised shares of Airbnb from a "market perform" rating to an "outperform" rating and set a $160.00 price objective for the company in a report on Wednesday, February 4th. TD Cowen raised their price objective on shares of Airbnb from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Finally, Cantor Fitzgerald set a $121.00 price objective on shares of Airbnb in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $149.40.

Airbnb Stock Performance

ABNB opened at $128.96 on Monday. The company has a 50 day moving average of $127.72 and a 200 day moving average of $127.11. Airbnb, Inc. has a 12 month low of $109.79 and a 12 month high of $143.88. The company has a market cap of $78.50 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. Research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Elinor Mertz sold 3,750 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $130.99, for a total transaction of $491,212.50. Following the completion of the transaction, the chief financial officer directly owned 394,359 shares in the company, valued at $51,657,085.41. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nathan Blecharczyk sold 4,260 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $125.29, for a total transaction of $533,735.40. Following the transaction, the insider owned 49,250 shares of the company's stock, valued at $6,170,532.50. This trade represents a 7.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 363,510 shares of company stock worth $46,447,668 in the last three months. Corporate insiders own 27.83% of the company's stock.

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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