Allen Investment Management LLC Raises Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Allen Investment Management LLC boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 319.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,538 shares of the company’s stock after acquiring an additional 23,264 shares during the quarter. Allen Investment Management LLC’s holdings in Airbnb were worth $4,630,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $619,584,000. Jennison Associates LLC increased its stake in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after buying an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after acquiring an additional 3,558,178 shares in the last quarter. Edgewood Management LLC lifted its stake in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after purchasing an additional 1,684,646 shares during the period. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of recent research reports. TD Cowen reduced their price objective on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Robert W. Baird reduced their price target on Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. BMO Capital Markets decreased their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, Bank of America reduced their target price on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $133.45.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 5,442 shares of Airbnb stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $150.00, for a total value of $816,300.00. Following the completion of the transaction, the director now owns 42,087 shares in the company, valued at $6,313,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Airbnb news, Director Joseph Gebbia sold 5,442 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $150.00, for a total transaction of $816,300.00. Following the sale, the director now owns 42,087 shares of the company’s stock, valued at $6,313,050. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The disclosure for this sale can be found here. Insiders have sold 449,932 shares of company stock valued at $67,352,949 in the last quarter. Corporate insiders own 27.83% of the company’s stock.

Airbnb Price Performance

ABNB stock opened at $117.75 on Friday. The business’s fifty day moving average price is $128.14 and its 200 day moving average price is $145.83. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a market capitalization of $75.84 billion, a PE ratio of 15.76, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its earnings results 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 for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company earned $0.98 earnings per share. Airbnb’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.39 EPS for the current 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.