Pacer Advisors Inc. Boosts Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Pacer Advisors Inc. significantly increased its stake in Airbnb, Inc. by 2,297.4% in the first quarter, owning approximately 0.44% of the company, valued at $334.7 million.
• Airbnb's latest quarterly earnings revealed $0.24 earnings per share, slightly missing estimates, while its revenue grew 7.4% year-over-year, reaching $2.27 billion.
• Wall Street has mixed ratings on Airbnb, with an average consensus of "Hold" and a target price reduction from various analysts, highlighting a target price range between $115.00 and $160.00.

Pacer Advisors Inc. lifted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 2,297.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,801,899 shares of the company's stock after purchasing an additional 2,685,026 shares during the period. Pacer Advisors Inc. owned about 0.44% of Airbnb worth $334,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Park Square Financial Group LLC purchased a new stake in Airbnb during the 4th quarter worth about $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the fourth quarter valued at $28,000. Graney & King LLC acquired a new stake in shares of Airbnb during the fourth quarter worth about $32,000. Stonebridge Financial Group LLC lifted its holdings in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its position in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Up 1.3%

ABNB stock opened at $141.62 on Friday. The company has a 50 day moving average of $134.60 and a two-hundred day moving average of $130.97. The company has a market cap of $88.71 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.61 and a beta of 1.13. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The firm had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. Airbnb's revenue was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABNB. Royal Bank Of Canada decreased their price objective on Airbnb from $160.00 to $140.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Morgan Stanley lifted their target price on Airbnb from $125.00 to $130.00 and gave the company an "underweight" rating in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price target on Airbnb from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $141.50.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $137.58, for a total transaction of $82,548.00. Following the transaction, the chief technology officer owned 210,377 shares of the company's stock, valued at approximately $28,943,667.66. This trade represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the sale, the director owned 472,015 shares of the company's stock, valued at $65,529,842.45. This trade represents a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,650,658 shares of company stock worth $218,970,735 in the last three months. 27.91% of the stock is owned by insiders.

Airbnb Company Profile

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.

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