1832 Asset Management L.P. Buys 22,492 Shares of Airbnb, Inc. (NASDAQ:ABNB)

1832 Asset Management L.P. increased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,552 shares of the company’s stock after acquiring an additional 22,492 shares during the period. 1832 Asset Management L.P.’s holdings in Airbnb were worth $23,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp purchased a new position in Airbnb during the 1st quarter valued at about $7,628,000. Assenagon Asset Management S.A. grew its holdings in shares of Airbnb by 4.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock worth $1,119,000 after acquiring an additional 333 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Airbnb by 18.4% during the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after acquiring an additional 22,551 shares during the period. Stevens Capital Management LP purchased a new position in shares of Airbnb during the 4th quarter worth approximately $726,000. Finally, Cerity Partners LLC grew its holdings in shares of Airbnb by 14.4% during the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock worth $13,011,000 after acquiring an additional 12,008 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

ABNB stock traded up $0.07 during trading on Friday, reaching $140.10. The company’s stock had a trading volume of 5,101,418 shares, compared to its average volume of 3,544,985. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $90.23 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company’s fifty day moving average is $147.78 and its 200-day moving average is $152.23.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, research analysts expect that Airbnb, Inc. will post 4.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Airbnb from $127.00 to $129.00 and gave the stock an “underweight” rating in a report on Tuesday, July 9th. BMO Capital Markets upped their target price on Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a report on Thursday, May 9th. Benchmark restated a “buy” rating and issued a $190.00 price target on shares of Airbnb in a research note on Thursday, July 18th. B. Riley initiated coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price target on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $155.00 price target (up previously from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $152.50.

Insider Activity

In related news, CAO David C. Bernstein sold 6,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total value of $882,000.00. Following the completion of the transaction, the chief accounting officer now owns 47,043 shares of the company’s stock, valued at approximately $6,915,321. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the sale, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO David C. Bernstein sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total transaction of $882,000.00. Following the completion of the sale, the chief accounting officer now directly owns 47,043 shares of the company’s stock, valued at approximately $6,915,321. The disclosure for this sale can be found here. Insiders sold a total of 736,092 shares of company stock worth $109,519,936 over the last 90 days. Corporate insiders own 27.83% of the company’s stock.

About Airbnb

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.