Invenomic Capital Management LP Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Invenomic Capital Management LP bought a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 39,497 shares of the company’s stock, valued at approximately $5,009,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABNB. Pacer Advisors Inc. grew its holdings in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock valued at $537,872,000 after buying an additional 4,172,985 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Airbnb by 19,052.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock worth $256,784,000 after acquiring an additional 1,684,646 shares during the period. Edgewood Management LLC lifted its position in shares of Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after acquiring an additional 1,143,464 shares during the period. International Assets Investment Management LLC lifted its position in shares of Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after acquiring an additional 1,113,747 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Airbnb in the 2nd quarter worth approximately $60,240,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ABNB. The Goldman Sachs Group cut their price objective on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Susquehanna lifted their price objective on Airbnb from $130.00 to $160.00 and gave the company a “positive” rating in a research report on Monday, November 11th. Mizuho lowered their target price on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Finally, Argus cut Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.97.

Airbnb Stock Down 0.2 %

NASDAQ ABNB opened at $137.19 on Tuesday. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $86.97 billion, a PE ratio of 48.24, a PEG ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. The business has a fifty day moving average price of $134.15 and a two-hundred day moving average price of $135.25.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the previous year, the company posted $2.39 earnings per share. Equities analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nathan Blecharczyk sold 9,603 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 718,017 shares of company stock valued at $91,842,052 in the last ninety days. 27.83% of the stock is owned by company insiders.

Airbnb Company 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.