Vanguard Group Inc. Buys 604,120 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Vanguard Group Inc. has increased its stake in Airbnb by 1.6%, holding 37,462,629 shares worth approximately $4.48 billion, representing 5.94% of the company.
• Several institutional investors, including Investidor Profissional Gestao de Recursos Ltda. and iA Global Asset Management Inc., have significantly boosted their positions in Airbnb within the same quarter.
• In recent insider trades, CFO Elinor Mertz sold 6,250 shares and CEO Brian Chesky sold 8,000 shares, indicating a notable decrease in their ownership stakes.

Vanguard Group Inc. raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,462,629 shares of the company's stock after purchasing an additional 604,120 shares during the period. Vanguard Group Inc. owned 5.94% of Airbnb worth $4,475,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of Airbnb by 11.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,003 shares of the company's stock worth $132,000 after acquiring an additional 102 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $257,000. Colonial Trust Advisors grew its stake in shares of Airbnb by 652.2% in the fourth quarter. Colonial Trust Advisors now owns 519 shares of the company's stock worth $68,000 after acquiring an additional 450 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Airbnb by 13.1% in the fourth quarter. Neuberger Berman Group LLC now owns 10,379 shares of the company's stock worth $1,364,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Airbnb by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 192,277 shares of the company's stock worth $25,267,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $139.39, for a total transaction of $83,634.00. Following the completion of the transaction, the chief technology officer owned 209,777 shares in the company, valued at approximately $29,240,816.03. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,671,023 shares of company stock worth $223,195,427. 27.91% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Susquehanna decreased their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research note on Monday, May 5th. B. Riley decreased their price target on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Barclays set a $105.00 price target on shares of Airbnb and gave the stock an "underweight" rating in a research note on Thursday. DA Davidson upgraded shares of Airbnb from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, Wedbush decreased their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Airbnb currently has a consensus rating of "Hold" and an average price target of $143.59.

Airbnb Stock Up 0.8%

Shares of ABNB traded up $0.99 on Friday, hitting $121.02. The company's stock had a trading volume of 5,785,507 shares, compared to its average volume of 4,795,555. The firm's fifty day moving average price is $134.96 and its 200-day moving average price is $130.97. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a market capitalization of $75.81 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the firm earned $0.86 EPS. Airbnb's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Airbnb 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.