MKA Charitable Fund Lowers Stake in Airbnb, Inc. (NASDAQ:ABNB)

MKA Charitable Fund lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,719,712 shares of the company’s stock after selling 30,288 shares during the period. Airbnb comprises approximately 100.0% of MKA Charitable Fund’s holdings, making the stock its biggest position. MKA Charitable Fund’s holdings in Airbnb were worth $260,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Airbnb by 2.4% during the 1st 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 in the last quarter. Edgewood Management LLC lifted its holdings in Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares during the period. Jennison Associates LLC lifted its holdings in 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 acquiring an additional 3,899,179 shares during the period. Price T Rowe Associates Inc. MD lifted 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 valued at $958,279,000 after acquiring an additional 3,558,178 shares during the period. Finally, Norges Bank purchased a new stake in shares of Airbnb in the fourth quarter valued at approximately $619,584,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Down 1.6 %

ABNB opened at $114.28 on Friday. The firm has a market cap of $73.60 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The business’s 50 day moving average is $131.77 and its two-hundred day moving average is $147.02. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. On average, research analysts predict that Airbnb, Inc. will post 4.43 EPS for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 612,907 shares of company stock valued at $91,473,471. Company insiders own 27.83% of the company’s stock.

Analyst Ratings Changes

ABNB has been the subject of a number of recent analyst reports. Robert W. Baird cut their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. TD Cowen lowered their target price on Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley raised their target price on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. UBS Group lowered their target price on Airbnb from $160.00 to $134.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Wedbush decreased their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $134.48.

Airbnb 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.