Jupiter Asset Management Ltd. Takes Position in Airbnb, Inc. (NASDAQ:ABNB)

Jupiter Asset Management Ltd. acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 397,285 shares of the company’s stock, valued at approximately $60,240,000. Jupiter Asset Management Ltd. owned about 0.06% of Airbnb as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ABNB. Daiwa Securities Group Inc. increased its position in Airbnb by 10.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 73,401 shares of the company’s stock valued at $11,130,000 after acquiring an additional 7,012 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of Airbnb by 5.5% in the second quarter. Royal London Asset Management Ltd. now owns 233,584 shares of the company’s stock valued at $35,418,000 after purchasing an additional 12,143 shares during the period. LGT Group Foundation raised its stake in shares of Airbnb by 85.4% during the second quarter. LGT Group Foundation now owns 463,570 shares of the company’s stock worth $70,291,000 after purchasing an additional 213,477 shares during the last quarter. Choreo LLC lifted its holdings in shares of Airbnb by 658.0% during the second quarter. Choreo LLC now owns 11,112 shares of the company’s stock worth $1,685,000 after purchasing an additional 9,646 shares during the period. Finally, X Square Capital LLC acquired a new stake in shares of Airbnb during the second quarter worth $227,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABNB. UBS Group dropped their price objective on shares of Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Bank of America lowered their price objective on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. BMO Capital Markets cut their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Finally, Susquehanna decreased their price target on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $134.48.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the sale, the chief technology officer now owns 208,174 shares in the company, valued at approximately $31,833,968.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO David C. Bernstein sold 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $145.50, for a total value of $291,000.00. Following the transaction, the chief accounting officer now directly owns 45,043 shares of the company’s stock, valued at approximately $6,553,756.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the sale, the chief technology officer now directly owns 208,174 shares of the company’s stock, valued at approximately $31,833,968.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 451,932 shares of company stock worth $67,643,949. 27.83% of the stock is owned by company insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $115.96 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $74.68 billion, a PE ratio of 15.52, a P/E/G ratio of 1.52 and a beta of 1.16. The firm has a 50 day simple moving average of $129.55 and a 200-day simple moving average of $146.25. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that Airbnb, Inc. will post 4.39 EPS for the current 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.