Plato Investment Management Ltd Increases Stake in Airbnb, Inc. $ABNB

Key Points

• Plato Investment Management Ltd increased its stake in Airbnb, Inc. by 53.1%, now holding 18,974 shares worth approximately $2.29 million.
• Other institutional investors, including Vanguard Group and AQR Capital Management, also boosted their positions significantly in the same quarter.
• Airbnb's stock is rated a "Hold" with a consensus price target of $142.66, despite recent insider selling from key executives.

Plato Investment Management Ltd increased its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 53.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,974 shares of the company's stock after purchasing an additional 6,579 shares during the period. Plato Investment Management Ltd's holdings in Airbnb were worth $2,291,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company's stock valued at $4,475,286,000 after buying an additional 604,120 shares during the period. Harris Associates L P boosted its position in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after buying an additional 4,598,125 shares during the period. Northern Trust Corp boosted its position in Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company's stock valued at $525,979,000 after buying an additional 106,135 shares during the period. AQR Capital Management LLC boosted its position in Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after buying an additional 1,916,676 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after buying an additional 1,389,251 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Trading Down 0.3%

Shares of NASDAQ ABNB opened at $123.41 on Thursday. The firm has a fifty day simple moving average of $131.01 and a two-hundred day simple moving average of $128.89. The firm has a market capitalization of $76.69 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.26 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. Airbnb's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. On average, sell-side analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Finally, Cantor Fitzgerald restated an "underweight" rating and issued a $100.00 price objective on shares of Airbnb in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $142.66.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This trade represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the completion of the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,438,326 shares of company stock valued at $188,798,155 in the last quarter. 27.91% of the stock is owned by insiders.

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.

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