Edgewood Management LLC Raises Position in Airbnb, Inc. (NASDAQ:ABNB)

by · The Markets Daily

Edgewood Management LLC grew its position in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 9.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 13,582,433 shares of the company’s stock after acquiring an additional 1,143,464 shares during the period. Airbnb comprises about 4.6% of Edgewood Management LLC’s holdings, making the stock its 13th largest holding. Edgewood Management LLC owned about 2.12% of Airbnb worth $1,722,388,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Airbnb by 158.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after purchasing an additional 3,558,178 shares in the last quarter. Pacer Advisors Inc. lifted its position in Airbnb by 6,085.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after acquiring an additional 4,172,985 shares during the period. Legal & General Group Plc boosted its stake in Airbnb by 4.7% during the second quarter. Legal & General Group Plc now owns 3,423,094 shares of the company’s stock worth $519,044,000 after acquiring an additional 153,784 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Airbnb by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,706,296 shares of the company’s stock worth $343,185,000 after purchasing an additional 52,358 shares during the period. Finally, MKA Charitable Fund grew its holdings in Airbnb by 17.2% in the third quarter. MKA Charitable Fund now owns 2,015,865 shares of the company’s stock worth $255,632,000 after purchasing an additional 296,153 shares during the period. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABNB. Susquehanna boosted their price target on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research report on Monday, November 11th. Sanford C. Bernstein cut their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. DA Davidson lifted their price target on Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday. Phillip Securities reissued a “reduce” rating and set a $120.00 price objective on shares of Airbnb in a research report on Tuesday, November 12th. Finally, B. Riley dropped their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.97.

Check Out Our Latest Stock Report on Airbnb

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 42,719 shares of Airbnb stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 72.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total transaction of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 641,094 shares of company stock worth $81,077,447 over the last quarter. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

ABNB opened at $133.35 on Friday. The stock has a market capitalization of $84.54 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 1.86 and a beta of 1.15. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The company has a fifty day moving average of $132.34 and a 200 day moving average of $136.03.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the firm posted $2.39 EPS. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.04 earnings per share for the current fiscal year.

Airbnb Company Profile

(Free Report)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.

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