Virtu Financial LLC Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Virtu Financial LLC has acquired a new position in Airbnb, Inc., purchasing 51,745 shares valued at approximately $6.18 million, which now represents about 0.3% of its investment portfolio.
• Airbnb reported $1.03 EPS for the last quarter, exceeding the expected $0.92 EPS, while its revenue reached $3.10 billion, indicating a year-over-year growth of 12.7%.
• Institutional investors own approximately 80.76% of Airbnb’s stock, demonstrating significant institutional interest in the company.

Virtu Financial LLC purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 51,745 shares of the company's stock, valued at approximately $6,181,000. Airbnb makes up approximately 0.3% of Virtu Financial LLC's holdings, making the stock its 27th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Airbnb by 2,297.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after acquiring an additional 2,685,026 shares during the last quarter. Two Sigma Advisers LP boosted its position in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares during the last quarter. 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 worth $388,924,000 after acquiring an additional 1,389,251 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Airbnb by 119.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company's stock worth $179,991,000 after acquiring an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Airbnb by 52.1% during the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company's stock worth $310,896,000 after acquiring an additional 809,964 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the business's 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 sale, the chief technology officer directly owned 209,777 shares of the company's stock, valued at $29,240,816.03. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the transaction, the director owned 236,015 shares of the company's stock, valued at $30,613,505.65. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock worth $223,195,427 in the last three months. 27.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of analyst reports. Benchmark dropped their price objective on Airbnb from $178.00 to $155.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Citigroup dropped their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating for the company in a research note on Monday, May 5th. B. Riley lowered their price objective on Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald restated an "underweight" rating and set a $100.00 price objective on shares of Airbnb in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Airbnb currently has an average rating of "Hold" and an average price target of $142.72.

Airbnb Price Performance

Shares of Airbnb stock traded up $3.31 during trading on Tuesday, reaching $121.61. 6,278,882 shares of the stock traded hands, compared to its average volume of 5,029,082. The company has a market capitalization of $76.18 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 2.16 and a beta of 1.13. The business has a fifty day simple moving average of $134.51 and a two-hundred day simple moving average of $130.82. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. On average, research analysts predict 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.