Empowered Funds LLC Grows Position in Airbnb, Inc. $ABNB

Empowered Funds LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 46.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 143,352 shares of the company’s stock after purchasing an additional 45,795 shares during the period. Empowered Funds LLC’s holdings in Airbnb were worth $18,102,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its position in Airbnb by 1.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after buying an additional 76 shares during the period. Patton Fund Management Inc. grew its holdings in Airbnb by 4.3% in the 4th quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock worth $254,000 after acquiring an additional 77 shares during the last quarter. BOKF NA increased its position in shares of Airbnb by 11.0% in the fourth quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after acquiring an additional 78 shares during the period. Yoder Wealth Management Inc. increased its position in shares of Airbnb by 0.3% in the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock valued at $3,582,000 after acquiring an additional 84 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Airbnb by 1.0% during the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after acquiring an additional 86 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In related news, insider Nathan Blecharczyk sold 13,615 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $145.43, for a total value of $1,980,029.45. Following the completion of the transaction, the insider directly owned 12,370 shares in the company, valued at $1,798,969.10. This trade represents a 52.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth I. Chenault sold 8,346 shares of Airbnb stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the transaction, the director directly owned 40,879 shares of the company’s stock, valued at approximately $6,131,850. This trade represents a 16.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,245,479 shares of company stock worth $310,454,308. Corporate insiders own 27.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $173.00 price objective on shares of Airbnb in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on Airbnb from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Robert W. Baird boosted their target price on Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Finally, Needham & Company LLC started coverage on Airbnb in a report on Monday, May 4th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Moderate Buy” and a consensus price target of $160.23.

Airbnb Trading Up 4.3%

ABNB opened at $153.11 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $153.19. The stock has a market cap of $92.28 billion, a PE ratio of 37.71, a PEG ratio of 1.57 and a beta of 1.14. The business has a 50 day moving average of $140.53 and a 200-day moving average of $134.79.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.Airbnb’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Equities research analysts predict that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

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.