Fifth Third Bancorp Increases Stake in Airbnb, Inc. $ABNB

Fifth Third Bancorp grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 673.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,982 shares of the company’s stock after buying an additional 83,571 shares during the period. Fifth Third Bancorp’s holdings in Airbnb were worth $12,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ABNB. ORG Partners LLC grew its stake in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC boosted its holdings 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 last quarter. Entrust Financial LLC purchased a new position in shares of Airbnb during the fourth quarter valued at about $27,000. Sunbelt Securities Inc. grew its position in shares of Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Finally, Wiser Advisor Group LLC bought a new stake in shares of Airbnb in the third quarter worth about $27,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

ABNB has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. HC Wainwright upgraded Airbnb to a “buy” rating in a report on Monday, May 4th. Citizens Jmp upped their price objective on Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Airbnb in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $173.00 target price on shares of Airbnb in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.96.

Airbnb Stock Up 0.1%

Shares of NASDAQ:ABNB opened at $146.54 on Wednesday. The business’s 50 day moving average is $138.72 and its 200 day moving average is $134.17. The stock has a market cap of $88.32 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $150.19. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last issued 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 net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.91 EPS for the current year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 294,903 shares of the stock in a transaction dated 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 transaction, the director directly owned 2,622,452 shares in the company, valued at $389,250,550.36. This represents a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 11,206,389 shares in the company, valued at $1,481,708,753.58. This trade represents a 2.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,325,429 shares of company stock worth $321,925,435. Company insiders own 27.21% of the company’s stock.

Airbnb 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.