Sciencast Management LP Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Sciencast Management LP bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the first quarter, HoldingsChannel.com reports. The firm bought 9,444 shares of the company’s stock, valued at approximately $1,558,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Airbnb in the first quarter valued at $7,628,000. Compagnie Lombard Odier SCmA grew its holdings in Airbnb by 34.7% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock valued at $4,304,000 after buying an additional 8,140 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Airbnb by 4.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock valued at $1,119,000 after acquiring an additional 333 shares during the last quarter. Rafferty Asset Management LLC grew its holdings 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 purchasing an additional 22,551 shares during the period. Finally, Nordea Investment Management AB increased its position in Airbnb by 27.5% during the fourth quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock worth $172,742,000 after purchasing an additional 273,191 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Performance

NASDAQ:ABNB traded up $0.78 during mid-day trading on Friday, hitting $146.78. The stock had a trading volume of 2,923,060 shares, compared to its average volume of 4,372,526. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $148.64 and a 200-day simple moving average of $151.43. The stock has a market capitalization of $94.53 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.88 and a beta of 1.18. Airbnb, Inc. has a 52 week low of $113.24 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. Airbnb’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. On average, research analysts expect that Airbnb, Inc. will post 4.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ABNB. TD Cowen decreased their price target on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. UBS Group upped their price target on Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Truist Financial boosted their price objective on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Finally, Tigress Financial raised their price objective on Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and an average price target of $152.44.

Insider Buying and Selling at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $155.83, for a total value of $93,498.00. Following the completion of the transaction, the chief technology officer now owns 221,704 shares of the company’s stock, valued at $34,548,134.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $155.83, for a total value of $93,498.00. Following the completion of the transaction, the chief technology officer now directly owns 221,704 shares in the company, valued at $34,548,134.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David C. Bernstein sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the transaction, the chief accounting officer now owns 47,043 shares in the company, valued at approximately $6,915,321. The disclosure for this sale can be found here. Insiders have sold 540,307 shares of company stock valued at $80,338,959 in the last quarter. Corporate insiders own 27.83% of the company’s stock.

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.