Mizuho Markets Americas LLC Takes Position in Airbnb, Inc. $ABNB

Key Points

• Mizuho Markets Americas LLC opened a new position in Airbnb during the first quarter, buying 23,598 shares valued at about $2.98 million.
• Airbnb reported mixed quarterly results: EPS of $0.26 missed estimates, while revenue of $2.68 billion beat expectations and rose 17.9% year over year.
• Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average price target of $159.65, even as insiders have recently sold shares.

Mizuho Markets Americas LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 23,598 shares of the company's stock, valued at approximately $2,980,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABNB. Commerzbank Aktiengesellschaft FI boosted its holdings in Airbnb by 1.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company's stock worth $727,000 after buying an additional 76 shares in the last quarter. Patton Fund Management Inc. grew its position in Airbnb by 4.3% in the fourth quarter. Patton Fund Management Inc. now owns 1,874 shares of the company's stock worth $254,000 after buying an additional 77 shares during the last quarter. BOKF NA increased its holdings in shares of Airbnb by 11.0% in the fourth quarter. BOKF NA now owns 787 shares of the company's stock valued at $107,000 after buying an additional 78 shares in the last quarter. Yoder Wealth Management Inc. increased its holdings in shares of Airbnb by 0.3% in the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company's stock valued at $3,582,000 after buying an additional 84 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Airbnb by 1.0% during the 3rd quarter. Private Advisor Group LLC now owns 8,295 shares of the company's stock valued at $1,007,000 after acquiring an additional 86 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Trading Down 1.8%

Airbnb stock opened at $137.57 on Friday. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $82.91 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 1.50 and a beta of 1.14. The company has a 50 day moving average price of $139.68 and a 200 day moving average price of $134.58.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. Airbnb's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. Research analysts forecast that Airbnb, Inc. will post 4.92 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ABNB shares. Susquehanna raised their price objective on Airbnb from $150.00 to $170.00 and gave the stock a "positive" rating in a research note on Friday, May 8th. Barclays boosted their target price on Airbnb from $122.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. HSBC downgraded Airbnb from a "hold" rating to a "hold" rating in a report on Monday, May 4th. DA Davidson increased their price target on Airbnb from $150.00 to $162.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, Morgan Stanley cut Airbnb from an "underweight" rating to an "underweight" rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.65.

Insider Activity

In related news, Director Joseph Gebbia sold 294,903 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares of the company's stock, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the completion of the sale, the chief executive officer directly owned 11,206,389 shares of the company's stock, valued at approximately $1,481,708,753.58. This represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,231,864 shares of company stock worth $308,474,278. 27.21% of the stock is owned by corporate insiders.

Airbnb 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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