TCW Group Inc. Increases Position in Airbnb, Inc. (NASDAQ:ABNB)

TCW Group Inc. boosted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 18.7% in the 1st quarter, Holdings Channel reports. The fund owned 16,404 shares of the company’s stock after acquiring an additional 2,581 shares during the quarter. TCW Group Inc.’s holdings in Airbnb were worth $1,960,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company’s stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Airbnb by 119.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,506,704 shares of the company’s stock valued at $179,991,000 after purchasing an additional 820,887 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Airbnb by 52.1% in the 4th quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock valued at $310,896,000 after acquiring an additional 809,964 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush downgraded shares of Airbnb from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $150.00 to $135.00 in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Truist Financial reissued a “sell” rating and issued a $106.00 price target (down from $112.00) on shares of Airbnb in a research note on Friday, May 30th. UBS Group boosted their price target on shares of Airbnb from $137.00 to $156.00 and gave the company a “neutral” rating in a research note on Monday. Finally, BNP Paribas raised shares of Airbnb to a “hold” rating in a research note on Wednesday, July 16th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus target price of $142.10.

Airbnb Trading Up 0.6%

Shares of Airbnb stock opened at $142.16 on Tuesday. The company has a fifty day simple moving average of $134.77 and a 200-day simple moving average of $131.13. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The stock has a market cap of $89.05 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 2.64 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the sale, the chief financial officer owned 485,080 shares in the company, valued at $59,873,424.40. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the sale, the director owned 1,180,015 shares of the company’s stock, valued at approximately $164,494,091. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,655,558 shares of company stock worth $219,678,073. Corporate insiders own 27.91% of the company’s stock.

Airbnb Company 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.