316,309 Shares in Airbnb, Inc. $ABNB Bought by Madison Asset Management LLC

Madison Asset Management LLC bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 316,309 shares of the company’s stock, valued at approximately $45,264,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABNB. North Dakota State Investment Board acquired a new stake in shares of Airbnb during the fourth quarter worth $2,785,000. North Star Asset Management Inc. raised its stake in Airbnb by 13.4% in the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after acquiring an additional 9,294 shares during the last quarter. Carmignac Gestion raised its stake in Airbnb by 40.8% in the 1st quarter. Carmignac Gestion now owns 659,570 shares of the company’s stock worth $83,290,000 after acquiring an additional 191,200 shares during the last quarter. Oxbow Advisors LLC lifted its position in Airbnb by 122.9% during the 4th quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock worth $6,842,000 after acquiring an additional 27,793 shares during the period. Finally, Danske Bank A S lifted its position in Airbnb by 11.0% during the 4th quarter. Danske Bank A S now owns 235,557 shares of the company’s stock worth $31,970,000 after acquiring an additional 23,422 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ABNB shares. DA Davidson increased their price objective on Airbnb from $162.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company lifted their target price on Airbnb from $181.00 to $186.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. The Goldman Sachs Group set a $170.00 target price on Airbnb in a research report on Tuesday, July 28th. Truist Financial increased their price target on shares of Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, June 12th. Finally, Scotiabank started coverage on shares of Airbnb in a report on Monday, May 4th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $172.00.

Insider Activity

In related news, Director Joseph Gebbia sold 294,903 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the sale, the director owned 2,622,452 shares of the company’s stock, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 531,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the transaction, the insider directly owned 171,370 shares in the company, valued at approximately $29,888,641.70. The trade was a 75.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,121,551 shares of company stock worth $461,483,447 in the last quarter. Corporate insiders own 27.21% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB opened at $186.39 on Thursday. The stock has a market capitalization of $111.61 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 2.12 and a beta of 1.14. The stock has a 50-day moving average of $151.98 and a 200 day moving average of $138.77. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $189.20.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.Airbnb’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Sell-side analysts anticipate that Airbnb, Inc. will post 5.22 EPS for the current fiscal year.

Airbnb 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.