Carmignac Gestion Has $93.95 Million Stock Holdings in Airbnb, Inc. $ABNB

Carmignac Gestion trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 656,570 shares of the company’s stock after selling 3,000 shares during the period. Airbnb makes up about 1.2% of Carmignac Gestion’s holdings, making the stock its 24th biggest position. Carmignac Gestion owned approximately 0.11% of Airbnb worth $93,955,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABNB. Empirical Finance LLC increased its holdings in shares of Airbnb by 16.9% in the 2nd quarter. Empirical Finance LLC now owns 4,128 shares of the company’s stock valued at $591,000 after purchasing an additional 597 shares during the period. Nykredit A S acquired a new stake in shares of Airbnb during the second quarter worth approximately $25,373,000. Parkside Financial Bank & Trust grew its position in Airbnb by 11.4% during the second quarter. Parkside Financial Bank & Trust now owns 800 shares of the company’s stock valued at $114,000 after purchasing an additional 82 shares in the last quarter. Corient Private Wealth LP increased its stake in Airbnb by 3.4% in the 2nd quarter. Corient Private Wealth LP now owns 175,373 shares of the company’s stock valued at $25,096,000 after buying an additional 5,717 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Airbnb in the 2nd quarter valued at approximately $12,378,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABNB has been the subject of a number of research reports. Sanford C. Bernstein lifted their target price on shares of Airbnb from $168.00 to $217.00 and gave the company an “outperform” rating in a research note on Monday, August 24th. Royal Bank Of Canada set a $165.00 price objective on Airbnb in a report on Monday, August 10th. Evercore set a $200.00 price objective on Airbnb in a research report on Monday, August 24th. Susquehanna upped their target price on Airbnb from $170.00 to $200.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded Airbnb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb has an average rating of “Moderate Buy” and a consensus price target of $179.10.

Insiders Place Their Bets

In related news, CEO Brian Chesky sold 20,000 shares of Airbnb stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $173.61, for a total transaction of $3,472,200.00. Following the sale, the chief executive officer directly owned 5,854 shares of the company’s stock, valued at $1,016,312.94. This trade represents a 77.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $187.27, for a total value of $2,549,681.05. Following the transaction, the insider owned 20,567 shares in the company, valued at $3,851,582.09. This represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,288,689 shares of company stock worth $374,988,733 in the last ninety days. Insiders own 27.21% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB traded down $7.40 during midday trading on Tuesday, hitting $174.54. The company’s stock had a trading volume of 7,042,407 shares, compared to its average volume of 4,295,478. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s 50 day simple moving average is $163.73 and its 200 day simple moving average is $144.53. The stock has a market capitalization of $104.51 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 2.11 and a beta of 1.16. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $193.45.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, research analysts anticipate that Airbnb, Inc. will post 5.23 earnings per share for the current year.

About Airbnb

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.