Airbnb, Inc. (NASDAQ:ABNB) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.3% during the first quarter, Holdings Channel reports. The firm owned 22,999 shares of the company’s stock after purchasing an additional 729 shares during the period. Fifth Third Bancorp’s holdings in Airbnb were worth $2,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Simon Quick Advisors LLC raised its holdings in Airbnb by 68.5% during the first quarter. Simon Quick Advisors LLC now owns 6,533 shares of the company’s stock worth $780,000 after purchasing an additional 2,655 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Airbnb by 119.7% during the first quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock worth $179,991,000 after purchasing an additional 820,887 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in Airbnb by 8.1% during the first quarter. Integrated Advisors Network LLC now owns 2,387 shares of the company’s stock worth $285,000 after purchasing an additional 179 shares in the last quarter. Abacus FCF Advisors LLC raised its holdings in Airbnb by 134.1% during the first quarter. Abacus FCF Advisors LLC now owns 116,906 shares of the company’s stock worth $13,966,000 after purchasing an additional 66,974 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Airbnb by 98.9% during the first quarter. GAMMA Investing LLC now owns 5,115 shares of the company’s stock worth $611,000 after purchasing an additional 2,543 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 700 shares of Airbnb stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $126.00, for a total transaction of $88,200.00. Following the completion of the transaction, the chief technology officer now owns 171,419 shares of the company’s stock, valued at $21,598,794. The trade was a 0.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, June 9th. The stock was sold at an average price of $139.40, for a total value of $32,898,400.00. Following the transaction, the director now directly owns 1,180,015 shares of the company’s stock, valued at $164,494,091. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,663,033 shares of company stock valued at $208,384,185 in the last 90 days. 27.91% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $185.00 in a report on Monday, March 10th. Royal Bank of Canada lowered their target price on shares of Airbnb from $160.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Truist Financial restated a “sell” rating and set a $106.00 target price (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Wedbush lowered shares of Airbnb from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $150.00 to $135.00 in a research report on Friday, May 2nd. Finally, Evercore ISI lowered their target price on shares of Airbnb from $165.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.23.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $135.54 on Friday. The firm has a market capitalization of $84.90 billion, a P/E ratio of 32.82, a PEG ratio of 3.52 and a beta of 1.14. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The company’s fifty day moving average is $126.31 and its two-hundred day moving average is $130.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69.

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