MKA Charitable Fund Sells 25,350 Shares of Airbnb, Inc. $ABNB

MKA Charitable Fund lowered its position in Airbnb, Inc. (NASDAQ:ABNB) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,905,463 shares of the company’s stock after selling 25,350 shares during the quarter. Airbnb accounts for approximately 100.0% of MKA Charitable Fund’s holdings, making the stock its biggest holding. MKA Charitable Fund owned 0.31% of Airbnb worth $231,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Airbnb by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock valued at $4,649,814,000 after acquiring an additional 649,323 shares in the last quarter. Harris Associates L P lifted its holdings in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Airbnb by 1.5% in the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after purchasing an additional 145,788 shares during the last quarter. Norges Bank purchased a new position in shares of Airbnb during the 2nd quarter worth approximately $483,644,000. Finally, Akre Capital Management LLC increased its stake in shares of Airbnb by 19.0% during the 2nd quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock worth $459,649,000 after purchasing an additional 555,510 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Airbnb

In related news, Director Joseph Gebbia sold 232,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $114.22, for a total value of $26,499,040.00. Following the sale, the director directly owned 15 shares of the company’s stock, valued at approximately $1,713.30. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 141,063 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $121.96, for a total transaction of $17,204,043.48. Following the transaction, the insider directly owned 11,520 shares of the company’s stock, valued at $1,404,979.20. This trade represents a 92.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,027,422 shares of company stock worth $127,060,208 in the last three months. Company insiders own 27.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABNB. B. Riley Financial raised Airbnb from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $170.00 in a research note on Monday, January 12th. BTIG Research reissued a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a research note on Wednesday, January 21st. TD Cowen lifted their price objective on Airbnb from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Sanford C. Bernstein cut their target price on shares of Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $148.69.

Airbnb Stock Up 1.7%

Shares of NASDAQ:ABNB opened at $127.89 on Friday. The company has a market cap of $78.72 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.73 and a beta of 1.15. The business has a fifty day simple moving average of $131.09 and a 200-day simple moving average of $125.96. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $154.57.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. Sell-side analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal 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.