Thornburg Investment Management Inc. Invests $1.32 Million in Airbnb, Inc. (NASDAQ:ABNB)

Thornburg Investment Management Inc. bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 8,717 shares of the company’s stock, valued at approximately $1,322,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Airbnb during the first quarter valued at about $7,628,000. Rafferty Asset Management LLC grew its stake in Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock valued at $19,720,000 after acquiring an additional 22,551 shares during the period. SteelPeak Wealth LLC grew its stake in Airbnb by 17.2% in the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after acquiring an additional 985 shares during the period. ProShare Advisors LLC increased its holdings in shares of Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after acquiring an additional 83,383 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of Airbnb by 35.8% during the fourth quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after purchasing an additional 37,785 shares during the period. 80.76% of the stock is owned by institutional investors.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $149.90, for a total value of $89,940.00. Following the transaction, the chief technology officer now directly owns 209,974 shares in the company, valued at $31,475,102.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $149.90, for a total transaction of $89,940.00. Following the transaction, the chief technology officer now directly owns 209,974 shares of the company’s stock, valued at $31,475,102.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 1,500 shares of Airbnb stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $150.00, for a total value of $225,000.00. Following the completion of the transaction, the director now directly owns 42,087 shares in the company, valued at $6,313,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 449,932 shares of company stock worth $67,352,949. 27.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABNB shares. JPMorgan Chase & Co. reduced their price target on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Susquehanna lowered their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada cut their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald started coverage on Airbnb in a research note on Thursday, September 5th. They issued an “underweight” rating and a $94.00 price objective for the company. Finally, Piper Sandler dropped their price objective on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $134.48.

Airbnb Stock Performance

Airbnb stock opened at $117.36 on Friday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $75.59 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The firm’s 50 day simple moving average is $128.84 and its 200 day simple moving average is $146.05.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Airbnb Company 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 connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.