Invenomic Capital Management LP Increases Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Invenomic Capital Management LP increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 88.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,616 shares of the company’s stock after purchasing an additional 35,119 shares during the quarter. Invenomic Capital Management LP’s holdings in Airbnb were worth $9,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Airbnb in the fourth quarter valued at about $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb in the fourth quarter valued at about $26,000. Graney & King LLC acquired a new position in Airbnb during the 4th quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new position in shares of Airbnb during the 4th quarter worth approximately $44,000. Finally, Cromwell Holdings LLC lifted its holdings in shares of Airbnb by 82.5% in the 4th quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock valued at $49,000 after buying an additional 170 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 190,301 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $140.51, for a total transaction of $26,739,193.51. Following the sale, the chief executive officer now directly owns 12,231,685 shares in the company, valued at approximately $1,718,674,059.35. This represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 700 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $161.05, for a total value of $112,735.00. Following the transaction, the chief technology officer now owns 180,514 shares of the company’s stock, valued at approximately $29,071,779.70. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,173,970 shares of company stock worth $293,686,892 over the last quarter. 27.91% of the stock is owned by corporate insiders.

Airbnb Stock Up 0.5 %

Shares of NASDAQ:ABNB opened at $127.06 on Friday. The firm has a market cap of $80.12 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a fifty day simple moving average of $121.52 and a 200 day simple moving average of $131.18. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $0.41 EPS. Airbnb’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ABNB shares. Jefferies Financial Group upgraded Airbnb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $185.00 in a research report on Monday, March 10th. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Robert W. Baird reduced their price target on shares of Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Wedbush cut Airbnb from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $150.00 to $135.00 in a report on Friday, May 2nd. Finally, Wells Fargo & Company lifted their price objective on Airbnb from $100.00 to $104.00 and gave the stock an “underweight” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $141.43.

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.