Baker Chad R Raises Stock Position in Airbnb, Inc. $ABNB

Baker Chad R increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 53.8% during the third quarter, HoldingsChannel.com reports. The fund owned 36,845 shares of the company’s stock after acquiring an additional 12,890 shares during the period. Baker Chad R’s holdings in Airbnb were worth $4,474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Harris Associates L P grew its position in shares of 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 purchasing an additional 4,598,125 shares in the last quarter. Norges Bank purchased a new stake in shares of Airbnb in the second quarter worth $483,644,000. AQR Capital Management LLC raised its position in shares of Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after buying an additional 1,916,676 shares in the last quarter. Amundi boosted its stake in Airbnb by 112.3% during the second quarter. Amundi now owns 2,670,251 shares of the company’s stock valued at $361,525,000 after buying an additional 1,412,608 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Airbnb during the second quarter worth about $170,189,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Trading Up 0.0%

Shares of NASDAQ ABNB opened at $136.82 on Friday. The stock has a market cap of $84.22 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 2.41 and a beta of 1.11. The stock’s 50-day moving average is $124.73 and its 200 day moving average is $127.58. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABNB. Mizuho set a $156.00 target price on Airbnb in a research note on Friday, November 7th. Royal Bank Of Canada raised Airbnb from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $145.00 to $170.00 in a report on Wednesday, December 17th. Wedbush upped their price objective on shares of Airbnb from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. KeyCorp started coverage on shares of Airbnb in a research note on Thursday, October 23rd. They issued a “sector weight” rating on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $165.00 price target on shares of Airbnb in a research note on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $144.48.

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 141,063 shares of Airbnb stock in a transaction on Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the transaction, the insider owned 11,520 shares in the company, valued at $1,404,979.20. This trade represents a 92.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $120.66, for a total transaction of $28,475,760.00. Following the completion of the sale, the director directly owned 232,015 shares of the company’s stock, valued at $27,994,929.90. This represents a 50.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,754,606 shares of company stock valued at $214,342,160. Insiders own 27.91% of the company’s stock.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.