Oak Associates Ltd. OH bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 39,972 shares of the company's stock, valued at approximately $5,048,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Harris Associates L P grew its stake in Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company's stock valued at $2,537,205,000 after purchasing an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Airbnb by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company's stock valued at $1,368,338,000 after buying an additional 47,966 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Airbnb by 58.4% in the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company's stock valued at $917,845,000 after buying an additional 2,492,847 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Airbnb by 3.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company's stock valued at $824,356,000 after buying an additional 216,455 shares in the last quarter. Finally, Independent Franchise Partners LLP grew its position in shares of Airbnb by 23.6% in the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company's stock worth $698,452,000 after buying an additional 981,624 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Airbnb
In related news, CFO Elinor Mertz sold 3,750 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the completion of the transaction, the chief financial officer owned 445,290 shares in the company, valued at $65,907,372.90. This trade represents a 0.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 2,460 shares of Airbnb stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $150.00, for a total value of $369,000.00. Following the sale, the director directly owned 2,595,119 shares of the company's stock, valued at approximately $389,267,850. This represents a 0.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is currently owned by corporate insiders.
Airbnb Stock Performance
Shares of Airbnb stock opened at $137.57 on Friday. The firm has a market capitalization of $82.91 billion, a P/E ratio of 33.88, a PEG ratio of 1.50 and a beta of 1.14. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $139.68 and a 200 day moving average price of $134.58. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88.
Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period in the prior year, the firm posted $0.24 EPS. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. Sell-side analysts expect that Airbnb, Inc. will post 4.92 EPS for the current year.
Wall Street Analysts Forecast Growth
ABNB has been the subject of several recent analyst reports. Wedbush initiated coverage on shares of Airbnb in a research note on Thursday, July 16th. They set a "neutral" rating and a $152.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Airbnb from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. DA Davidson lifted their price target on shares of Airbnb from $150.00 to $162.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Benchmark upped their price target on Airbnb from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Citizens Jmp increased their price objective on Airbnb from $160.00 to $170.00 and gave the company a "market outperform" rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $159.65.
Check Out Our Latest Research Report on ABNB
Airbnb Company Profile
(
Free Report)
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.
Further Reading
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