Empowered Funds LLC Boosts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Empowered Funds LLC raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1,043.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,499 shares of the company’s stock after purchasing an additional 57,033 shares during the quarter. Empowered Funds LLC’s holdings in Airbnb were worth $7,925,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in ABNB. Transcendent Capital Group LLC purchased a new stake in shares of Airbnb in the first quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in Airbnb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management grew its holdings in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. New Millennium Group LLC purchased a new position in Airbnb during the second quarter worth $28,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Airbnb in the second quarter worth $30,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Price Performance

ABNB stock opened at $132.50 on Friday. The firm has a 50-day moving average of $130.99 and a two-hundred day moving average of $136.73. The firm has a market capitalization of $85.01 billion, a PE ratio of 46.49, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. Airbnb, Inc. has a one year low of $110.38 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Phillip Securities reissued a “reduce” rating and issued a $120.00 target price on shares of Airbnb in a research note on Tuesday. Barclays raised their target price on shares of Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Mizuho cut their price target on Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Citigroup lifted their price objective on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Piper Sandler increased their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus target price of $139.31.

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 sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This trade represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the company’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 transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 417,806 shares of company stock valued at $51,809,831. 27.83% of the stock is owned by corporate insiders.

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.