Corient Private Wealth LLC Raises Stake in Airbnb, Inc. $ABNB

Corient Private Wealth LLC lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 17.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,937 shares of the company’s stock after purchasing an additional 7,584 shares during the quarter. Corient Private Wealth LLC’s holdings in Airbnb were worth $6,892,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Harris Associates L P boosted its holdings in Airbnb by 21.0% during the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock worth $2,537,205,000 after buying an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC increased its holdings in Airbnb by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock valued at $1,368,338,000 after buying an additional 47,966 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Airbnb by 58.4% during the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock valued at $917,845,000 after acquiring an additional 2,492,847 shares during the period. Clearbridge Investments LLC lifted its position in shares of Airbnb by 3.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock valued at $824,356,000 after acquiring an additional 216,455 shares during the period. Finally, Independent Franchise Partners LLP boosted its stake in shares of Airbnb by 23.6% during the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock worth $698,452,000 after acquiring an additional 981,624 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

ABNB stock opened at $141.88 on Friday. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $147.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50 day moving average price is $137.20 and its 200 day moving average price is $132.76. The firm has a market cap of $85.51 billion, a P/E ratio of 34.95, a PEG ratio of 1.55 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. Airbnb’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. On average, sell-side analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABNB shares. Weiss Ratings upgraded Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Susquehanna boosted their target price on Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of Airbnb in a report on Friday, May 8th. Sanford C. Bernstein restated an “outperform” rating on shares of Airbnb in a research report on Friday, May 22nd. Finally, Cantor Fitzgerald raised Airbnb from a “neutral” rating to an “overweight” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.96.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 30,743 shares of Airbnb stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $138.40, for a total transaction of $4,254,831.20. Following the completion of the sale, the chief executive officer owned 10,701,685 shares in the company, valued at approximately $1,481,113,204. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 265,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $138.51, for a total transaction of $36,705,150.00. Following the completion of the transaction, the director directly owned 2,917,355 shares of the company’s stock, valued at $404,082,841.05. The trade was a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,914,860 shares of company stock valued at $259,869,869 over the last quarter. 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.