Plato Investment Management Ltd Boosts Stock Position in Airbnb, Inc. (NASDAQ:ABNB)

Plato Investment Management Ltd boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 2.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,493 shares of the company’s stock after purchasing an additional 358 shares during the period. Plato Investment Management Ltd’s holdings in Airbnb were worth $2,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Airbnb by 2.4% in the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after buying an additional 791,149 shares during the last quarter. Edgewood Management LLC boosted its holdings in shares of Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after purchasing an additional 2,135,529 shares during the last quarter. Jennison Associates LLC grew its position in shares of Airbnb by 57.9% in the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after purchasing an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 valued at $958,279,000 after purchasing an additional 3,558,178 shares during the last quarter. Finally, Norges Bank purchased a new position in Airbnb during the fourth quarter worth about $619,584,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wedbush lowered their target price on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. TD Cowen cut their price target on shares of Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America cut their target price on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $133.45.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the sale, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Joseph Gebbia sold 5,442 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $150.00, for a total value of $816,300.00. Following the completion of the sale, the director now directly owns 42,087 shares in the company, valued at approximately $6,313,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total transaction of $91,752.00. Following the sale, the chief technology officer now owns 208,174 shares of the company’s stock, valued at approximately $31,833,968.08. The disclosure for this sale can be found here. In the last three months, insiders sold 449,932 shares of company stock worth $67,352,949. 27.83% of the stock is currently owned by insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $117.75 on Monday. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10. The stock has a market cap of $75.84 billion, a P/E ratio of 15.76, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a 50-day moving average of $128.14 and a two-hundred day moving average of $145.73.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the business earned $0.98 EPS. Airbnb’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

About Airbnb

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.