Sciencast Management LP Acquires New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Sciencast Management LP acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,444 shares of the company’s stock, valued at approximately $1,558,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABNB. Vanguard Group Inc. increased its stake in Airbnb by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock worth $4,697,896,000 after buying an additional 10,301,746 shares during the period. Norges Bank bought a new stake in shares of Airbnb during the fourth quarter valued at approximately $619,584,000. Jennison Associates LLC raised its stake in shares of Airbnb by 57.9% during the first quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after acquiring an additional 3,899,179 shares in the last quarter. Edgewood Management LLC boosted its holdings 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 valued at $1,690,556,000 after purchasing an additional 2,135,529 shares during the period. Finally, Alphinity Investment Management Pty Ltd grew its stake in 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 purchasing an additional 813,074 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of research analyst reports. TD Cowen decreased their target price on Airbnb from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. DA Davidson reaffirmed a “neutral” rating and issued a $145.00 price objective on shares of Airbnb in a research note on Thursday, May 9th. B. Riley Financial initiated coverage on shares of Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 target price on the stock. B. Riley began coverage on shares of Airbnb in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price target for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $152.44.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now directly owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $145.50, for a total transaction of $291,000.00. Following the sale, the chief accounting officer now directly owns 45,043 shares in the company, valued at $6,553,756.50. The disclosure for this sale can be found here. Insiders have sold a total of 540,307 shares of company stock valued at $80,338,959 over the last ninety days. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

NASDAQ ABNB traded up $0.78 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 PE ratio of 19.65, a P/E/G ratio of 1.88 and a beta of 1.18. Airbnb, Inc. has a 1-year low of $113.24 and a 1-year high of $170.10. The firm’s 50-day moving average price is $148.64 and its two-hundred day moving average price is $151.43. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25.

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

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.