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

Carmignac Gestion lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 656,570 shares of the company’s stock after selling 3,000 shares during the quarter. Airbnb accounts for about 1.2% of Carmignac Gestion’s investment portfolio, making the stock its 24th biggest position. Carmignac Gestion’s holdings in Airbnb were worth $93,955,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in shares of Airbnb by 13,162.3% in the 2nd quarter. California State Teachers Retirement System now owns 91,253,439 shares of the company’s stock worth $13,058,367,000 after buying an additional 90,565,372 shares in the last quarter. Harris Associates L P boosted its stake in Airbnb by 21.0% in the 4th quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after buying an additional 3,240,477 shares in the last quarter. Geode Capital Management LLC grew its position in Airbnb by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock valued at $1,368,338,000 after acquiring an additional 47,966 shares during the period. AQR Capital Management LLC raised its stake in Airbnb by 58.4% during the fourth quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after acquiring an additional 2,492,847 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Airbnb by 3.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after acquiring an additional 216,455 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABNB. Oppenheimer increased their target price on shares of Airbnb from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Cantor Fitzgerald lifted their target price on shares of Airbnb from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Airbnb from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. UBS Group raised their price target on Airbnb from $163.00 to $172.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Benchmark increased their target price on Airbnb from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.10.

Airbnb Trading Down 4.1%

Shares of ABNB traded down $7.40 on Tuesday, reaching $174.54. 7,042,407 shares of the company’s stock were exchanged, compared to its average volume of 4,295,478. The business has a 50 day moving average price of $163.73 and a two-hundred day moving average price of $144.53. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $193.45. The stock has a market capitalization of $104.51 billion, a P/E ratio of 39.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. 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 (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. Research analysts anticipate that Airbnb, Inc. will post 5.23 earnings per share for the current year.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia Jr. sold 294,903 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.41, for a total value of $92,611,710.00. Following the transaction, the insider owned 171,370 shares of the company’s stock, valued at $29,888,641.70. The trade was a 75.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,288,689 shares of company stock worth $374,988,733 in the last three months. Insiders own 27.21% of the company’s stock.

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.