91,678 Shares in Airbnb, Inc. $ABNB Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has acquired a new position in Airbnb, Inc. (NASDAQ: ABNB), purchasing 91,678 shares valued at approximately $10.95 million.
• A significant portion of Airbnb's stock, around 80.76%, is owned by institutional investors and hedge funds, indicating strong institutional support.
• Despite an upgrade in ratings from some analysts, the average consensus target price for Airbnb stock is currently $142.66, with a general rating of "Hold."

SCS Capital Management LLC acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 91,678 shares of the company's stock, valued at approximately $10,952,000.

Several other large investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Airbnb by 19.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,157,884 shares of the company's stock worth $377,241,000 after acquiring an additional 521,752 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Airbnb by 11.0% during the 1st quarter. Empowered Funds LLC now owns 72,712 shares of the company's stock worth $8,686,000 after acquiring an additional 7,222 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Airbnb during the 1st quarter worth approximately $304,000. Ascent Group LLC bought a new position in shares of Airbnb during the 1st quarter worth approximately $421,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Airbnb by 18.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,486 shares of the company's stock worth $1,372,000 after acquiring an additional 1,810 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the transaction, the chief technology officer directly owned 202,006 shares of the company's stock, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elinor Mertz sold 4,630 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the completion of the transaction, the chief financial officer directly owned 444,070 shares of the company's stock, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,438,326 shares of company stock valued at $188,798,155. 27.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several recent analyst reports. Zacks Research upgraded shares of Airbnb to a "hold" rating in a research note on Tuesday, August 12th. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Truist Financial cut their price target on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research note on Wednesday, September 3rd. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Finally, BMO Capital Markets set a $124.00 price target on shares of Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $142.66.

Airbnb Stock Down 0.4%

Shares of NASDAQ:ABNB traded down $0.50 during midday trading on Friday, reaching $122.55. The company's stock had a trading volume of 5,262,734 shares, compared to its average volume of 5,228,475. The firm has a market capitalization of $76.16 billion, a PE ratio of 29.67, a P/E/G ratio of 2.25 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a fifty day moving average of $130.74 and a 200 day moving average of $128.74.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion for 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%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

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.