Jennison Associates LLC Grows Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Jennison Associates LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 57.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,632,035 shares of the company’s stock after purchasing an additional 3,899,179 shares during the quarter. Airbnb makes up about 1.2% of Jennison Associates LLC’s holdings, making the stock its 25th biggest position. Jennison Associates LLC owned approximately 1.64% of Airbnb worth $1,753,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. CVA Family Office LLC purchased a new position in Airbnb during the fourth quarter worth about $26,000. Orion Capital Management LLC bought a new stake in Airbnb in the third quarter worth about $27,000. Bfsg LLC bought a new stake in Airbnb in the fourth quarter worth about $27,000. Trust Co. of Vermont bought a new stake in Airbnb in the fourth quarter worth about $27,000. Finally, Vima LLC bought a new stake in Airbnb in the fourth quarter worth about $29,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Trading Down 0.4 %

Shares of Airbnb stock traded down $0.54 during trading on Monday, reaching $151.96. The company’s stock had a trading volume of 3,227,764 shares, compared to its average volume of 4,377,827. Airbnb, Inc. has a 52-week low of $113.24 and a 52-week high of $170.10. The company has a market cap of $97.87 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.89 and a beta of 1.18. The firm’s 50-day moving average is $149.35 and its two-hundred day moving average is $151.34. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 17.8% on a year-over-year basis. On average, sell-side analysts anticipate that Airbnb, Inc. will post 4.65 earnings per share for the current year.

Insider Activity at Airbnb

In related news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the sale, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the completion of the sale, the chief technology officer now directly owns 219,904 shares in the company, valued at approximately $35,624,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the sale, the director now owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The disclosure for this sale can be found here. Insiders sold 424,922 shares of company stock worth $62,811,386 in the last three months. 27.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research report on Thursday, May 9th. Truist Financial lifted their price objective on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. UBS Group lifted their price objective on shares of Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Piper Sandler Companies boosted their price target on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Wells Fargo & Company boosted their price target on shares of Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $152.38.

Airbnb Company Profile

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.