Regents of The University of California Acquires New Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Regents of The University of California bought a new position in Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,496 shares of the company’s stock, valued at approximately $247,000. Airbnb accounts for about 0.1% of Regents of The University of California’s investment portfolio, making the stock its 25th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Airbnb by 43.0% during the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after buying an additional 10,301,746 shares during the period. Edgewood Management LLC boosted its stake in shares of Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock worth $1,753,860,000 after acquiring an additional 3,899,179 shares during the last quarter. Norges Bank bought a new stake in shares of Airbnb during the 4th quarter valued at $619,584,000. Finally, Alphinity Investment Management Pty Ltd increased its stake in shares of Airbnb by 48.3% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock worth $339,926,000 after purchasing an additional 813,074 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Trading Up 0.5 %

Shares of NASDAQ:ABNB traded up $0.78 during trading hours on Friday, hitting $146.78. 2,923,060 shares of the company’s stock traded hands, compared to its average volume of 4,372,526. The firm has a market capitalization of $94.53 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. The business has a fifty day moving average price of $148.64 and a 200-day moving average price of $151.43. Airbnb, Inc. has a 1 year low of $113.24 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44.

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

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $157.24, for a total value of $94,344.00. Following the transaction, the chief technology officer now directly owns 221,104 shares in the company, valued at approximately $34,766,392.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $157.24, for a total transaction of $94,344.00. Following the completion of the sale, the chief technology officer now owns 221,104 shares in the company, valued at $34,766,392.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 44,990 shares of Airbnb stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. Insiders sold 540,307 shares of company stock worth $80,338,959 in the last 90 days. 27.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABNB shares. Wedbush raised Airbnb from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $165.00 in a report on Tuesday, May 28th. Truist Financial raised their target price on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. BMO Capital Markets lifted their price target on shares of Airbnb from $135.00 to $151.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Thursday, May 9th. Finally, Piper Sandler Companies lifted their target price on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Airbnb currently has an average rating of “Hold” and an average target price of $152.44.

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.