Airbnb, Inc. $ABNB Stock Position Boosted by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 469,527 shares of the company’s stock after acquiring an additional 17,595 shares during the quarter. ProShare Advisors LLC’s holdings in Airbnb were worth $75,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Airbnb by 80.6% during the second quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock worth $827,929,000 after purchasing an additional 2,581,539 shares during the last quarter. Amundi grew its holdings in shares of Airbnb by 8.6% in the first quarter. Amundi now owns 4,686,765 shares of the company’s stock worth $591,845,000 after purchasing an additional 370,426 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Airbnb by 114.6% in the third quarter. Assenagon Asset Management S.A. now owns 3,401,521 shares of the company’s stock worth $546,454,000 after purchasing an additional 1,816,522 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Airbnb by 9,331.0% in the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock worth $400,681,000 after purchasing an additional 3,139,315 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Airbnb by 2.5% in the 1st quarter. Pacer Advisors Inc. now owns 2,325,214 shares of the company’s stock worth $293,628,000 after buying an additional 56,250 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb News Summary

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb’s planned commitment of $500 million over five years to provide as many as 1 million free nights annually for people in crisis could strengthen the company’s brand and social-impact profile over the long term. Airbnb’s next big bet: 1 million free nights a year for people in crisis
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a “Moderate Buy” consensus and an average price target of $182.43. Airbnb’s asset-light model, global reach and previous quarterly revenue growth also support the long-term investment case.
• Neutral Sentiment: Airbnb is scheduled to report quarterly results next week. Analysts expect earnings growth, but previews suggest the company may lack the two key factors typically associated with a likely earnings beat, raising uncertainty around the report. Airbnb earnings expected to grow
• Negative Sentiment: A new house-rules policy taking effect November 20 will prevent hosts from requiring guests to perform time-consuming cleaning tasks. Some hosts are threatening to boycott the platform, leave Airbnb or raise cleaning fees, creating potential risks for listings, pricing and bookings. Airbnb hosts threaten boycott and higher cleaning fees over new guest chore policy
• Negative Sentiment: New U.K. tax measures targeting landlords and short-term-rental owners are expected to impose an estimated £800 million burden on Airbnb owners, potentially reducing host supply or increasing prices in an important market. Airbnb owners hit by £800m tax raid
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.33 million, reducing his direct ownership by 39.83%. The sale may weigh on sentiment, although insider transactions do not necessarily indicate weakening fundamentals. SEC insider transaction filing

Airbnb Price Performance

Airbnb stock opened at $164.39 on Monday. The business has a fifty day moving average of $170.39 and a two-hundred day moving average of $146.67. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm has a market cap of $98.44 billion, a P/E ratio of 37.36, a P/E/G ratio of 1.88 and a beta of 1.26. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The business 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 business’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. On average, analysts forecast that Airbnb, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 13,615 shares of Airbnb stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $170.81, for a total value of $2,325,578.15. Following the transaction, the insider owned 20,567 shares in the company, valued at $3,513,049.27. The trade was a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Bernstein sold 1,369 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $168.01, for a total transaction of $230,005.69. Following the completion of the transaction, the chief accounting officer owned 45,655 shares of the company’s stock, valued at $7,670,496.55. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,281,967 shares of company stock worth $230,470,521. 27.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABNB. TD Cowen upgraded shares of Airbnb to a “strong-buy” rating in a report on Monday, September 14th. Wall Street Zen downgraded shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Sunday, October 4th. BNP Paribas Exane upped their target price on shares of Airbnb from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. HSBC raised their target price on shares of Airbnb from $162.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Citizens Jmp lifted their price target on shares of Airbnb from $190.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.43.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.