Asset Management One Co. Ltd. boosted its position in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,303 shares of the company’s stock after acquiring an additional 1,076 shares during the period. Asset Management One Co. Ltd.’s holdings in Airbnb were worth $18,200,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in Airbnb by 7.0% during the first quarter. Mackenzie Financial Corp now owns 79,445 shares of the company’s stock worth $9,883,000 after buying an additional 5,230 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Airbnb by 82.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 112,046 shares of the company’s stock worth $13,668,000 after buying an additional 50,492 shares during the last quarter. Crumly & Associates Inc. bought a new position in Airbnb during the first quarter worth about $237,000. Accredited Investors Inc. bought a new position in Airbnb during the first quarter worth about $262,000. Finally, Axiom Advisory LLC bought a new position in Airbnb during the first quarter worth about $218,000. Institutional investors own 41.62% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. TD Cowen reduced their target price on Airbnb from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, May 10th. Truist Financial dropped their price target on Airbnb from $130.00 to $116.00 in a research report on Thursday, June 1st. Canaccord Genuity Group dropped their price target on Airbnb from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 10th. Bank of America dropped their price target on Airbnb from $145.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 10th. Finally, Wedbush initiated coverage on Airbnb in a research report on Monday, June 5th. They set a “neutral” rating and a $130.00 price target on the stock. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.47.
Airbnb Stock Performance
Airbnb (NASDAQ:ABNB – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.08. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.79 billion. Airbnb had a return on equity of 37.51% and a net margin of 23.30%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. As a group, equities research analysts predict that Airbnb, Inc. will post 3.53 EPS for the current year.
Insider Activity at Airbnb
In related news, Director Joseph Gebbia sold 350,000 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $113.56, for a total value of $39,746,000.00. Following the completion of the sale, the director now directly owns 5,100,101 shares in the company, valued at approximately $579,167,469.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 2,750 shares of Airbnb stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $119.83, for a total value of $329,532.50. Following the completion of the transaction, the chief technology officer now directly owns 213,284 shares of the company’s stock, valued at approximately $25,557,821.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 350,000 shares of Airbnb stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $113.56, for a total value of $39,746,000.00. Following the completion of the transaction, the director now directly owns 5,100,101 shares of the company’s stock, valued at $579,167,469.56. The disclosure for this sale can be found here. Insiders sold 1,859,979 shares of company stock worth $221,482,404 in the last ninety days. 30.84% of the stock is owned by company insiders.
Airbnb 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 model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.
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