Sarasin & Partners LLP Takes $13.91 Million Position in Airbnb, Inc. (NASDAQ:ABNB)

Sarasin & Partners LLP purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 91,726 shares of the company’s stock, valued at approximately $13,908,000.

A number of other large investors have also recently added to or reduced their stakes in ABNB. Joel Isaacson & Co. LLC grew its holdings in shares of Airbnb by 2.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock valued at $493,000 after purchasing an additional 67 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock worth $1,541,000 after acquiring an additional 68 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of Airbnb by 1.6% during the first quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock worth $729,000 after acquiring an additional 69 shares during the period. Farrow Financial Inc. increased its position in shares of Airbnb by 1.0% during the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock worth $1,087,000 after acquiring an additional 69 shares during the period. Finally, Heritage Wealth Advisors raised its stake in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Price Performance

Shares of Airbnb stock traded down $2.57 during trading on Friday, hitting $116.31. 4,592,024 shares of the company were exchanged, compared to its average volume of 4,595,619. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week 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 firm has a 50 day moving average price of $141.43 and a 200 day moving average price of $150.47. The stock has a market capitalization of $74.91 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.67 and a beta of 1.18.

Airbnb (NASDAQ:ABNB) last released 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). The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. On average, equities analysts expect that Airbnb, Inc. will post 4.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total transaction of $91,752.00. Following the completion of the sale, the chief technology officer now directly owns 208,174 shares in the company, valued at $31,833,968.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the sale, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 80,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $149.11, for a total value of $11,928,800.00. Following the completion of the transaction, the chief technology officer now owns 207,574 shares of the company’s stock, valued at $30,951,359.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 735,492 shares of company stock worth $109,402,066. Corporate insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABNB shares. Robert W. Baird cut their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. HSBC lowered shares of Airbnb from a “buy” rating to a “hold” rating and cut their target price for the stock from $160.00 to $156.00 in a research note on Thursday, May 9th. Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $200.00 in a research note on Wednesday, April 24th. Morgan Stanley increased their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average price target of $137.00.

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.