MKA Charitable Fund Invests $232.52 Million in Airbnb, Inc. $ABNB

MKA Charitable Fund purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,624,847 shares of the company’s stock, valued at approximately $232,515,606. Airbnb accounts for about 0.1% of MKA Charitable Fund’s holdings, making the stock its biggest holding. MKA Charitable Fund owned about 0.27% of Airbnb at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. North Dakota State Investment Board purchased a new stake in Airbnb during the fourth quarter valued at about $2,785,000. North Star Asset Management Inc. lifted its stake in Airbnb by 13.4% in the fourth quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock valued at $10,663,000 after acquiring an additional 9,294 shares during the last quarter. Carmignac Gestion lifted its position in shares of Airbnb by 40.8% during the 1st quarter. Carmignac Gestion now owns 659,570 shares of the company’s stock valued at $83,290,000 after acquiring an additional 191,200 shares during the period. Oxbow Advisors LLC raised its stake in shares of Airbnb by 122.9% during the fourth quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock valued at $6,842,000 after acquiring an additional 27,793 shares during the last quarter. Finally, Danske Bank A S boosted its holdings in Airbnb by 11.0% in the fourth quarter. Danske Bank A S now owns 235,557 shares of the company’s stock worth $31,970,000 after acquiring an additional 23,422 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 200,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the sale, the chief executive officer owned 10,501,685 shares in the company, valued at $1,835,589,521.15. This represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. This represents a 10.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,850,714 shares of company stock valued at $445,952,309. Corporate insiders own 27.21% of the company’s stock.

Airbnb Stock Performance

ABNB traded up $5.34 during midday trading on Friday, hitting $189.74. 2,774,911 shares of the company traded hands, compared to its average volume of 4,252,100. The company’s 50-day moving average is $157.96 and its 200 day moving average is $141.41. The firm has a market capitalization of $113.61 billion, a PE ratio of 43.12, a price-to-earnings-growth ratio of 2.18 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $193.45. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, research analysts expect that Airbnb, Inc. will post 5.23 EPS for the current year.

Analysts Set New Price Targets

ABNB has been the subject of several recent analyst reports. Susquehanna upped their price objective on shares of Airbnb from $170.00 to $200.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Needham & Company LLC started coverage on shares of Airbnb in a report on Monday, May 4th. They issued a “buy” rating for the company. Phillip Securities cut shares of Airbnb from a “hold” rating to a “moderate sell” rating in a report on Tuesday, August 11th. UBS Group boosted their price objective on shares of Airbnb from $163.00 to $172.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Rodman & Renshaw began coverage on shares of Airbnb in a report on Monday, May 4th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.03.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.