Assenagon Asset Management S.A. Has $256.78 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Assenagon Asset Management S.A. raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 19,052.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,693,488 shares of the company’s stock after buying an additional 1,684,646 shares during the quarter. Airbnb comprises 0.6% of Assenagon Asset Management S.A.’s portfolio, making the stock its 25th biggest position. Assenagon Asset Management S.A. owned 0.26% of Airbnb worth $256,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Swedbank AB grew its position in shares of Airbnb by 8.1% during the 2nd quarter. Swedbank AB now owns 1,150,371 shares of the company’s stock worth $174,431,000 after buying an additional 86,502 shares during the period. Cigna Investments Inc. New grew its position in shares of Airbnb by 3.5% in the 2nd quarter. Cigna Investments Inc. New now owns 4,572 shares of the company’s stock valued at $693,000 after purchasing an additional 153 shares during the period. SteelPeak Wealth LLC grew its position in shares of Airbnb by 32.8% in the 2nd quarter. SteelPeak Wealth LLC now owns 8,910 shares of the company’s stock valued at $1,351,000 after purchasing an additional 2,202 shares during the period. Salvus Wealth Management LLC grew its position in shares of Airbnb by 7.2% in the 2nd quarter. Salvus Wealth Management LLC now owns 3,247 shares of the company’s stock valued at $492,000 after purchasing an additional 218 shares during the period. Finally, Keudell Morrison Wealth Management grew its position in shares of Airbnb by 10.8% in the 2nd quarter. Keudell Morrison Wealth Management now owns 3,767 shares of the company’s stock valued at $571,000 after purchasing an additional 366 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Stock Performance

ABNB traded down $2.57 during trading hours on Friday, reaching $116.31. The company’s stock had a trading volume of 4,587,900 shares, compared to its average volume of 4,595,619. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The company’s 50-day moving average is $141.43 and its 200-day moving average is $150.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $74.91 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Airbnb, Inc. will post 4.66 EPS for the current year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 44,990 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total value of $6,750,299.60. Following the sale, the director now owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $146.00, for a total value of $87,600.00. Following the transaction, the chief technology officer now directly owns 211,774 shares of the company’s stock, valued at approximately $30,919,004. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares in the company, valued at $6,971,908.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 735,492 shares of company stock worth $109,402,066. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of several research analyst reports. Barclays decreased their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Citigroup decreased their price objective on Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. HSBC lowered Airbnb from a “buy” rating to a “hold” rating and decreased their price objective for the company from $160.00 to $156.00 in a research report on Thursday, May 9th. B. Riley cut their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group cut their target price on Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.00.

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.