UniSuper Management Pty Ltd Raises Stock Position in Airbnb, Inc. $ABNB

UniSuper Management Pty Ltd lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 19.2% during the 3rd quarter, Holdings Channel reports. The firm owned 39,999 shares of the company’s stock after buying an additional 6,443 shares during the period. UniSuper Management Pty Ltd’s holdings in Airbnb were worth $4,857,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Airbnb by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock worth $4,982,067,000 after buying an additional 183,336 shares during the period. Harris Associates L P grew its stake in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after acquiring an additional 4,292,383 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Airbnb by 1.5% during the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after acquiring an additional 145,788 shares during the period. Norges Bank acquired a new stake in shares of Airbnb in the second quarter valued at $483,644,000. Finally, Akre Capital Management LLC boosted its holdings in Airbnb by 19.0% in the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock valued at $459,649,000 after purchasing an additional 555,510 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Down 1.2%

Shares of ABNB opened at $132.15 on Monday. The company has a market capitalization of $81.34 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The stock has a 50 day moving average price of $128.86 and a 200 day moving average price of $127.52.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm posted $2.13 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 58,000 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $138.45, for a total value of $8,030,100.00. Following the completion of the transaction, the director owned 518,015 shares in the company, valued at $71,719,176.75. This represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $135.94, for a total value of $509,775.00. Following the transaction, the chief financial officer directly owned 414,280 shares in the company, valued at approximately $56,317,223.20. The trade was a 0.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,152,372 shares of company stock valued at $141,414,638 in the last ninety days. 27.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on ABNB. Cantor Fitzgerald upgraded Airbnb from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $117.00 to $141.00 in a report on Thursday, January 8th. Sanford C. Bernstein lowered their price objective on Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. BNP Paribas Exane began coverage on shares of Airbnb in a report on Monday, November 24th. They issued a “hold” rating on the stock. Mizuho set a $156.00 price target on shares of Airbnb in a research note on Friday, November 7th. Finally, UBS Group set a $130.00 price target on shares of Airbnb in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Airbnb currently has an average rating of “Hold” and an average price target of $147.84.

About Airbnb

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.