Maverick Capital Ltd. Purchases Shares of 55,392 Airbnb, Inc. $ABNB

Key Points

• Maverick Capital Ltd. has invested approximately $6.62 million in Airbnb, acquiring 55,392 shares of the company.
• Several institutional investors, including Vanguard Group and Harris Associates, have also increased their holdings in Airbnb, reflecting strong interest in the stock.
• Airbnb reported a quarterly earnings per share (EPS) of $1.03, exceeding analysts' expectations and signaling continued revenue growth of 12.7% year-over-year.

Maverick Capital Ltd. bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 55,392 shares of the company's stock, valued at approximately $6,617,000.

Other institutional investors also recently modified their holdings of the company. Sit Investment Associates Inc. raised its position in shares of Airbnb by 42.8% during the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company's stock worth $2,015,000 after purchasing an additional 5,060 shares during the period. Vestmark Advisory Solutions Inc. raised its position in shares of Airbnb by 74.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company's stock worth $2,451,000 after purchasing an additional 8,780 shares during the period. Ritholtz Wealth Management raised its position in shares of Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company's stock worth $636,000 after purchasing an additional 484 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Airbnb by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,192 shares of the company's stock worth $6,115,000 after purchasing an additional 228 shares during the period. Finally, Spire Wealth Management raised its position in Airbnb by 40.1% in the 1st quarter. Spire Wealth Management now owns 909 shares of the company's stock valued at $109,000 after buying an additional 260 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the transaction, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $139.40, for a total value of $32,898,400.00. Following the completion of the sale, the director directly owned 1,180,015 shares in the company, valued at approximately $164,494,091. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,674,926 shares of company stock worth $221,778,833 in the last quarter. 27.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ABNB shares. Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Barclays set a $105.00 price objective on Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. BTIG Research restated a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group dropped their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $142.66.

Airbnb Stock Down 1.2%

Airbnb stock traded down $1.56 during midday trading on Friday, reaching $123.81. The stock had a trading volume of 4,326,500 shares, compared to its average volume of 4,472,522. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The firm's 50-day moving average price is $131.64 and its 200 day moving average price is $129.49. The firm has a market capitalization of $76.94 billion, a PE ratio of 29.98, a P/E/G ratio of 2.29 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the previous year, the business posted $0.86 EPS. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

About Airbnb

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.