Jennison Associates LLC Acquires 3,139,315 Shares of Airbnb, Inc. $ABNB

Jennison Associates LLC boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 9,331.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,172,959 shares of the company’s stock after buying an additional 3,139,315 shares during the period. Jennison Associates LLC owned approximately 0.52% of Airbnb worth $400,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC boosted its holdings in shares of Airbnb by 97.0% in the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the period. Transamerica Financial Advisors LLC raised its stake in shares of Airbnb by 143.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares during the period. Entrust Financial LLC bought a new stake in shares of Airbnb during the 4th quarter valued at $27,000. Sunbelt Securities Inc. lifted its holdings in Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Finally, Wiser Advisor Group LLC purchased a new stake in Airbnb during the 3rd quarter worth about $27,000. Institutional investors own 80.76% of the company’s stock.

Airbnb News Roundup

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Wedbush initiated coverage with a neutral rating and a $152 price target, implying modest upside from recent levels and signaling that analysts still see value in the shares. Article link
• Positive Sentiment: Jefferies reaffirmed its buy rating on Airbnb, supporting the view that Wall Street remains constructive on the company’s longer-term growth outlook. Article link
• Neutral Sentiment: Investors are watching Airbnb’s upcoming fiscal second-quarter earnings report, with analysts expecting double-digit earnings growth; results will likely determine whether the stock can extend recent momentum. Article link
• Neutral Sentiment: Airbnb co-founder Joseph Gebbia sold about $39 million in stock under a pre-arranged 10b5-1 plan. While not necessarily a bearish signal, insider selling can create some investor caution. Article link
• Negative Sentiment: CEO Brian Chesky’s X account was reportedly hacked and used to promote crypto tokenization posts. The incident does not directly affect fundamentals, but it is a reputational and security-related distraction for the company. Article link

Airbnb Price Performance

NASDAQ:ABNB opened at $145.98 on Friday. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $150.88. The stock has a fifty day moving average of $139.13 and a 200 day moving average of $134.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 1.57 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. Airbnb’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts expect that Airbnb, Inc. will post 4.92 EPS for the current fiscal year.

Analyst Ratings Changes

ABNB has been the subject of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Morgan Stanley downgraded shares of Airbnb from an “underweight” rating to an “underweight” rating in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 price objective on shares of Airbnb in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $170.00 price objective on shares of Airbnb in a research report on Friday, May 8th. Finally, Jefferies Financial Group upped their target price on shares of Airbnb from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.84.

Insider Transactions at Airbnb

In other Airbnb news, CEO Brian Chesky sold 265,746 shares of Airbnb stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the completion of the sale, the chief executive officer directly owned 11,206,389 shares in the company, valued at $1,481,708,753.58. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the sale, the director owned 2,622,452 shares of the company’s stock, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,325,429 shares of company stock valued at $321,925,435. 27.21% of the stock is owned by corporate insiders.

Airbnb Company Profile

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.