Rakuten Investment Management Inc. Takes $3.19 Million Position in Airbnb, Inc. $ABNB

Rakuten Investment Management Inc. purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 26,269 shares of the company’s stock, valued at approximately $3,190,000.

Other large investors also recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new stake in shares of Airbnb in the first quarter valued at about $258,000. Intech Investment Management LLC increased its stake in Airbnb by 55.8% during the 1st quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after buying an additional 4,353 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Airbnb by 18.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after buying an additional 927 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Airbnb by 13.9% during the second quarter. Farther Finance Advisors LLC now owns 4,270 shares of the company’s stock valued at $565,000 after acquiring an additional 522 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Airbnb by 11.7% in the second quarter. Mather Group LLC. now owns 2,239 shares of the company’s stock valued at $296,000 after acquiring an additional 235 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABNB has been the subject of several recent research reports. BTIG Research reissued a “neutral” rating on shares of Airbnb in a research note on Friday, November 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Airbnb in a research report on Wednesday, January 14th. Barclays set a $120.00 price target on shares of Airbnb and gave the stock an “equal weight” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Wednesday. Finally, DA Davidson reissued a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research note on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $147.84.

Insiders Place Their Bets

In related news, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $135.94, for a total transaction of $509,775.00. Following the completion of the sale, the chief financial officer directly owned 414,280 shares of the company’s stock, valued at approximately $56,317,223.20. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 2,565 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $134.79, for a total transaction of $345,736.35. Following the completion of the sale, the chief technology officer owned 165,086 shares in the company, valued at approximately $22,251,941.94. This trade represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,388,372 shares of company stock worth $171,733,558 in the last three months. 27.91% of the stock is owned by insiders.

Airbnb Price Performance

Shares of ABNB stock opened at $132.15 on Friday. The company has a market capitalization of $81.34 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09. The firm’s 50-day moving average is $128.86 and its two-hundred day moving average is $127.65. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.31 by ($0.10). The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $2.13 EPS. Sell-side analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Airbnb Company 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.