Vident Advisory LLC Increases Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Vident Advisory LLC increased its stake in Airbnb, Inc. by 8.5% in the first quarter, holding a total of $3.56 million in stock.
• Several institutional investors significantly boosted their positions, with Pacer Advisors Inc. increasing its stake by 2,297.4%, now owning shares worth approximately $334 million.
• Airbnb reported $3.10 billion in quarterly revenue, exceeding estimates, and achieved an earnings per share of $1.03, surpassing the forecast of $0.92.

Vident Advisory LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,836 shares of the company's stock after acquiring an additional 2,344 shares during the quarter. Vident Advisory LLC's holdings in Airbnb were worth $3,564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the fourth quarter valued at $28,000. Stonebridge Financial Group LLC grew its holdings in shares of Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after buying an additional 106 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Airbnb by 209.6% in the first 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. Finally, SouthState Corp lifted its position in shares of Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after acquiring an additional 201 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the 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 transaction, the chief technology officer owned 202,006 shares in the company, valued at approximately $25,242,669.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the transaction, the director owned 15 shares in the company, valued at approximately $1,880.40. The trade was a 99.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,434,296 shares of company stock valued at $191,087,168. 27.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Cantor Fitzgerald restated an "underweight" rating and issued a $100.00 target price on shares of Airbnb in a research report on Wednesday, May 14th. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Finally, Jefferies Financial Group reduced their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Two 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $142.66.

Airbnb Trading Down 2.1%

Shares of ABNB traded down $2.69 on Wednesday, reaching $124.90. 6,190,320 shares of the company's stock were exchanged, compared to its average volume of 5,242,555. The stock has a market capitalization of $77.62 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. The business has a 50 day moving average price of $132.11 and a two-hundred day moving average price of $130.03. 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 results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. Equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current 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.