TB Alternative Assets Ltd. Purchases 85,700 Shares of Airbnb, Inc. (NASDAQ:ABNB)

TB Alternative Assets Ltd. lifted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 36.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 323,900 shares of the company’s stock after purchasing an additional 85,700 shares during the quarter. Airbnb comprises 13.4% of TB Alternative Assets Ltd.’s portfolio, making the stock its 2nd largest position. TB Alternative Assets Ltd. owned approximately 0.05% of Airbnb worth $53,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ABNB. Vanguard Group Inc. boosted its stake in Airbnb by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Edgewood Management LLC boosted its position in shares of Airbnb by 20.8% in the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after buying an additional 2,135,529 shares during the period. Norges Bank acquired a new stake in shares of Airbnb in the fourth quarter worth $619,584,000. Legal & General Group Plc boosted its position in shares of Airbnb by 5.0% in the third quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock worth $352,466,000 after buying an additional 121,651 shares during the period. Finally, Alphinity Investment Management Pty Ltd boosted its position in shares of Airbnb by 48.3% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after buying an additional 813,074 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $145.00 price objective on shares of Airbnb in a report on Thursday, May 9th. Piper Sandler reiterated a “neutral” rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a report on Thursday, May 9th. UBS Group increased their price objective on Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. B. Riley assumed coverage on Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price objective for the company. Finally, Mizuho upgraded Airbnb from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $200.00 in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $152.38.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the completion of the transaction, the chief executive officer now owns 14,260,457 shares in the company, valued at $2,083,167,558.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the completion of the transaction, the director now owns 46,467 shares in the company, valued at approximately $6,971,908.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 115,385 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $146.08, for a total transaction of $16,855,440.80. Following the completion of the transaction, the chief executive officer now owns 14,260,457 shares of the company’s stock, valued at approximately $2,083,167,558.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,302 shares of company stock valued at $43,826,732. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

NASDAQ ABNB traded down $0.91 during trading on Wednesday, reaching $150.00. 3,793,827 shares of the company traded hands, compared to its average volume of 4,443,320. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50 day moving average price is $150.83 and its two-hundred day moving average price is $150.85. The company has a market cap of $96.61 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.87 and a beta of 1.18. Airbnb, Inc. has a 1-year low of $113.24 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, analysts anticipate that Airbnb, Inc. will post 4.65 EPS for the current year.

About Airbnb

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.