Oxbow Advisors LLC Makes New $2.75 Million Investment in Airbnb, Inc. $ABNB

Oxbow Advisors LLC purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,621 shares of the company’s stock, valued at approximately $2,747,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Airbnb by 0.5% in the second quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock worth $4,982,067,000 after acquiring an additional 183,336 shares during the period. Harris Associates L P grew its holdings in shares of Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Geode Capital Management LLC increased its position in shares of Airbnb by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after purchasing an additional 145,788 shares during the last quarter. Norges Bank purchased a new stake in Airbnb in the 2nd quarter valued at about $483,644,000. Finally, Akre Capital Management LLC lifted its position in Airbnb by 19.0% in the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock valued at $459,649,000 after buying an additional 555,510 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $120.66, for a total transaction of $28,475,760.00. Following the sale, the director directly owned 232,015 shares in the company, valued at approximately $27,994,929.90. This represents a 50.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nathan Blecharczyk sold 141,063 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the completion of the sale, the insider directly owned 11,520 shares in the company, valued at approximately $1,404,979.20. This trade represents a 92.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,388,372 shares of company stock valued at $171,733,558. 27.91% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

Shares of Airbnb stock traded down $1.65 during trading hours on Friday, reaching $132.15. 4,302,429 shares of the company were exchanged, compared to its average volume of 3,491,169. The firm has a market cap of $81.34 billion, a PE ratio of 31.39, a PEG ratio of 2.07 and a beta of 1.09. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The stock’s fifty day moving average is $128.86 and its 200 day moving average is $127.65.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald upgraded shares of Airbnb from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $117.00 to $141.00 in a research report on Thursday, January 8th. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. BNP Paribas Exane assumed coverage on Airbnb in a research note on Monday, November 24th. They set a “hold” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Airbnb in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $147.84.

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.