HS Management Partners LLC Acquires Shares of 67,186 Airbnb, Inc. $ABNB

HS Management Partners LLC acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 67,186 shares of the company’s stock, valued at approximately $9,614,000. Airbnb makes up 3.3% of HS Management Partners LLC’s investment portfolio, making the stock its 19th biggest position.

Several other institutional investors have also modified their holdings of ABNB. Plato Investment Management Ltd acquired a new stake in Airbnb in the second quarter valued at $3,070,000. Bank of New York Mellon Corp purchased a new stake in Airbnb during the 2nd quarter worth about $330,085,000. S&CO Inc. acquired a new position in shares of Airbnb during the 2nd quarter worth about $8,923,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of Airbnb during the 2nd quarter worth about $284,000. Finally, Family Wealth Partners LLC increased its holdings in shares of Airbnb by 5.9% in the 2nd quarter. Family Wealth Partners LLC now owns 2,324 shares of the company’s stock valued at $333,000 after acquiring an additional 130 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 3,748 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $153.34, for a total transaction of $574,718.32. Following the transaction, the chief financial officer directly owned 441,542 shares in the company, valued at approximately $67,706,050.28. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Gebbia sold 265,000 shares of Airbnb stock in a transaction on Monday, July 27th. The shares were sold at an average price of $145.70, for a total transaction of $38,610,500.00. Following the completion of the transaction, the director directly owned 1,828,518 shares in the company, valued at $266,415,072.60. The trade was a 12.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,107,936 shares of company stock valued at $458,993,808. 27.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABNB shares. JPMorgan Chase & Co. boosted their target price on Airbnb from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, August 11th. UBS Group increased their price target on shares of Airbnb from $163.00 to $172.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. HC Wainwright raised shares of Airbnb to a “buy” rating in a report on Monday, May 4th. Finally, HSBC downgraded shares of Airbnb from a “hold” rating to a “hold” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of “Moderate Buy” and an average target price of $172.00.

Airbnb Stock Up 2.2%

Shares of NASDAQ ABNB opened at $183.25 on Wednesday. The stock has a market cap of $109.73 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $187.12. The business has a 50-day moving average price of $150.83 and a 200 day moving average price of $138.38.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts forecast that Airbnb, Inc. will post 5.22 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.