ProShare Advisors LLC Has $100.38 Million Stake in Airbnb, Inc. $ABNB

ProShare Advisors LLC raised its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 37.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 739,600 shares of the company’s stock after buying an additional 201,335 shares during the period. ProShare Advisors LLC’s holdings in Airbnb were worth $100,379,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Life Insurance Co. boosted its stake in Airbnb by 15.0% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock valued at $8,022,000 after purchasing an additional 8,636 shares during the last quarter. National Pension Service boosted its stake in shares of Airbnb by 1.1% in the 3rd quarter. National Pension Service now owns 1,096,411 shares of the company’s stock worth $133,126,000 after buying an additional 12,453 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Airbnb by 87.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 23,155 shares of the company’s stock worth $2,964,000 after buying an additional 10,808 shares during the last quarter. Syntax Research Inc. purchased a new position in shares of Airbnb in the 3rd quarter worth approximately $1,865,000. Finally, Markel Group Inc. boosted its stake in shares of Airbnb by 7.1% in the 3rd quarter. Markel Group Inc. now owns 227,133 shares of the company’s stock worth $27,578,000 after buying an additional 15,130 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Trading Down 2.3%

NASDAQ:ABNB opened at $131.16 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $79.05 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20. The firm’s 50 day moving average is $133.49 and its 200 day moving average is $129.70. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $147.25.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ABNB shares. Wedbush upgraded Airbnb from a “neutral” rating to a “neutral” rating in a research note on Monday, May 4th. Argus upgraded Airbnb to a “strong-buy” rating in a research note on Tuesday, February 17th. Rodman & Renshaw started coverage on Airbnb in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $170.00 target price on shares of Airbnb in a research note on Friday, May 8th. Finally, Citizens Jmp boosted their target price on Airbnb from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Airbnb presently has an average rating of “Moderate Buy” and a consensus price target of $157.67.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $143.00, for a total value of $536,250.00. Following the sale, the chief financial officer owned 463,415 shares of the company’s stock, valued at approximately $66,268,345. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 58,000 shares of Airbnb stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $140.37, for a total transaction of $8,141,460.00. Following the completion of the sale, the director directly owned 54,015 shares in the company, valued at $7,582,085.55. This trade represents a 51.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 459,838 shares of company stock valued at $62,185,245. 27.21% of the stock is owned by company insiders.

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.