Fifth Third Bancorp Raises Stock Holdings in Airbnb, Inc. $ABNB

Fifth Third Bancorp raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 673.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 95,982 shares of the company’s stock after acquiring an additional 83,571 shares during the period. Fifth Third Bancorp’s holdings in Airbnb were worth $12,121,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Harris Associates L P boosted its holdings in Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after purchasing an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC raised its stake in Airbnb by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock valued at $1,368,338,000 after buying an additional 47,966 shares during the last quarter. AQR Capital Management LLC raised its stake in Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock valued at $917,845,000 after buying an additional 2,492,847 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after buying an additional 216,455 shares during the period. Finally, Independent Franchise Partners LLP lifted its holdings in shares of Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock valued at $698,452,000 after buying an additional 981,624 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathan Blecharczyk sold 88,366 shares of Airbnb stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total transaction of $12,884,646.46. Following the transaction, the insider owned 12,370 shares in the company, valued at approximately $1,803,669.70. The trade was a 87.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. This trade represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,325,429 shares of company stock worth $321,925,435 over the last three months. 27.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on ABNB. Oppenheimer raised Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $173.00 target price on shares of Airbnb in a report on Thursday, May 21st. Robert W. Baird raised their target price on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Wedbush upgraded Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. Finally, Citizens Jmp upped their price target on shares of Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.96.

Airbnb Stock Up 0.1%

NASDAQ ABNB opened at $146.54 on Wednesday. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.19. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $88.32 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The stock’s 50-day moving average price is $138.72 and its 200-day moving average price is $134.17.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. On average, equities research analysts predict that Airbnb, Inc. will post 4.91 earnings per share for the current year.

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.