HS Management Partners LLC Increases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

HS Management Partners LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 186.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 298,395 shares of the company’s stock after acquiring an additional 194,220 shares during the quarter. Airbnb comprises 2.4% of HS Management Partners LLC’s investment portfolio, making the stock its 20th biggest holding. HS Management Partners LLC’s holdings in Airbnb were worth $37,839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Airbnb in the first quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in shares of Airbnb in the 2nd quarter valued at about $28,000. Heritage Wealth Advisors boosted its position in shares of Airbnb by 55.0% in the 1st quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares during the period. Pathway Financial Advisers LLC purchased a new position in Airbnb during the 1st quarter worth approximately $33,000. Finally, Cultivar Capital Inc. acquired a new position in Airbnb during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Stock Performance

Airbnb stock opened at $136.46 on Monday. The stock has a fifty day moving average price of $126.86 and a 200 day moving average price of $138.07. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10. The firm has a market capitalization of $87.56 billion, a P/E ratio of 18.57, a PEG ratio of 1.90 and a beta of 1.15. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Airbnb, Inc. will post 4.17 earnings per share for the current year.

Insider Activity at Airbnb

In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Airbnb news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the transaction, the director now directly owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 418,406 shares of company stock worth $51,885,773. 27.83% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABNB. Bank of America restated a “hold” rating and set a $142.00 target price (up from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Argus lowered shares of Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Mizuho reduced their target price on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Piper Sandler dropped their price target on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their price objective on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $135.35.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.