Verde Capital Management Buys Shares of 21,461 Airbnb, Inc. $ABNB

Verde Capital Management bought a new position in Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 21,461 shares of the company’s stock, valued at approximately $2,710,000.

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

Wall Street Analyst Weigh In

ABNB has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $160.00 price target on shares of Airbnb in a report on Friday, June 5th. Morgan Stanley cut Airbnb from an “underweight” rating to an “underweight” rating in a report on Monday, May 4th. Needham & Company LLC started coverage on Airbnb in a research report on Monday, May 4th. They issued a “buy” rating for the company. Barclays raised their target price on Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Cantor Fitzgerald upgraded Airbnb from a “neutral” rating to an “overweight” rating in a research report on Monday, May 4th. Two equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.96.

Airbnb Price Performance

Shares of ABNB opened at $139.19 on Tuesday. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $147.25. The stock has a market cap of $83.89 billion, a PE ratio of 34.28, a P/E/G ratio of 1.53 and a beta of 1.16. The firm has a 50-day simple moving average of $136.56 and a two-hundred day simple moving average of $132.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, analysts forecast that Airbnb, Inc. will post 4.91 EPS for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 30,743 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $138.40, for a total value of $4,254,831.20. Following the sale, the chief executive officer owned 10,701,685 shares of the company’s stock, valued at $1,481,113,204. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 265,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $138.51, for a total value of $36,705,150.00. Following the transaction, the director owned 2,917,355 shares in the company, valued at $404,082,841.05. This trade represents a 8.33% decrease in their ownership of the stock. 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. 27.21% of the stock is owned by company insiders.

Airbnb Company 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.