Mediolanum International Funds Ltd Boosts Position in Airbnb, Inc. $ABNB

Mediolanum International Funds Ltd boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 23.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,050 shares of the company’s stock after purchasing an additional 17,160 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Airbnb were worth $11,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. E Fund Management Hong Kong Co. Ltd. raised its stake in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Airbnb during the second quarter worth about $28,000. Whipplewood Advisors LLC increased its position in shares of Airbnb by 235.3% during the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock worth $30,000 after purchasing an additional 160 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Airbnb in the 3rd quarter valued at about $32,000. Finally, NewSquare Capital LLC boosted its position in shares of Airbnb by 86.4% in the 2nd quarter. NewSquare Capital LLC now owns 287 shares of the company’s stock valued at $38,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 141,063 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, November 10th. The stock was sold at an average price of $120.66, for a total value of $28,475,760.00. Following the transaction, the director directly owned 232,015 shares of the company’s stock, valued at approximately $27,994,929.90. This represents a 50.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,202,272 shares of company stock valued at $148,094,596 in the last ninety days. 27.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group set a $130.00 price target on Airbnb in a research report on Tuesday, January 13th. Barclays set a $120.00 target price on shares of Airbnb and gave the stock an “equal weight” rating in a research report on Friday, January 9th. BNP Paribas Exane started coverage on shares of Airbnb in a research report on Monday, November 24th. They issued a “hold” rating for the company. DA Davidson reiterated a “buy” rating and set a $155.00 price target on shares of Airbnb in a research note on Friday, December 5th. Finally, Truist Financial lifted their price objective on shares of Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $147.84.

Airbnb Stock Down 1.8%

NASDAQ ABNB opened at $129.37 on Monday. The stock has a market capitalization of $79.63 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.00 and a beta of 1.15. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a 50-day moving average price of $130.57 and a 200 day moving average price of $127.34.

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

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.