ARK Investment Management LLC Acquires 243,299 Shares of Airbnb, Inc. $ABNB

ARK Investment Management LLC raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 30.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,035,828 shares of the company’s stock after acquiring an additional 243,299 shares during the period. ARK Investment Management LLC’s holdings in Airbnb were worth $125,770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Caxton Associates LLP purchased a new stake in Airbnb in the 1st quarter valued at about $258,000. Intech Investment Management LLC raised its stake in shares of Airbnb by 55.8% during the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock valued at $1,453,000 after acquiring an additional 4,353 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Airbnb by 18.8% in the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock valued at $776,000 after purchasing an additional 927 shares during the period. Spire Wealth Management boosted its holdings in shares of Airbnb by 14.4% in the second quarter. Spire Wealth Management now owns 1,040 shares of the company’s stock valued at $138,000 after purchasing an additional 131 shares during the period. Finally, Versor Investments LP bought a new position in Airbnb in the second quarter worth approximately $348,000. Institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABNB. Morgan Stanley set a $120.00 target price on shares of Airbnb in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of Airbnb from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research report on Friday, February 13th. Cantor Fitzgerald set a $121.00 price objective on shares of Airbnb in a report on Friday, February 13th. Barclays upped their target price on Airbnb from $120.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Finally, UBS Group increased their target price on Airbnb from $147.00 to $149.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $149.42.

Airbnb Stock Performance

ABNB opened at $135.54 on Thursday. The company has a fifty day moving average of $130.64 and a two-hundred day moving average of $126.44. The stock has a market capitalization of $82.50 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 1.50 and a beta of 1.12. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $143.88.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $121.97, for a total transaction of $7,074,260.00. Following the transaction, the director owned 344,015 shares in the company, valued at $41,959,509.55. The trade was a 14.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 4,260 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $125.29, for a total transaction of $533,735.40. Following the sale, the insider owned 49,250 shares of the company’s stock, valued at approximately $6,170,532.50. The trade was a 7.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 681,643 shares of company stock valued at $87,136,680 over the last ninety days. 27.91% of the stock is currently owned by company insiders.

About Airbnb

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.