Jennison Associates LLC Purchases 3,139,315 Shares of Airbnb, Inc. $ABNB

Jennison Associates LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 9,331.0% in the first quarter, Holdings Channel.com reports. The firm owned 3,172,959 shares of the company’s stock after purchasing an additional 3,139,315 shares during the quarter. Jennison Associates LLC’s holdings in Airbnb were worth $400,681,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ABNB. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Airbnb by 1.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 11,230 shares of the company’s stock worth $1,418,000 after buying an additional 197 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Airbnb by 9.0% during the first quarter. California Public Employees Retirement System now owns 892,358 shares of the company’s stock worth $112,687,000 after acquiring an additional 73,844 shares in the last quarter. MTM Investment Management LLC raised its stake in shares of Airbnb by 1.2% during the first quarter. MTM Investment Management LLC now owns 11,944 shares of the company’s stock worth $1,508,000 after acquiring an additional 145 shares in the last quarter. Kera Capital Partners Inc. lifted its holdings in shares of Airbnb by 19.6% in the 1st quarter. Kera Capital Partners Inc. now owns 10,178 shares of the company’s stock worth $1,285,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Airbnb by 13.7% in the 1st quarter. Assetmark Inc. now owns 171,602 shares of the company’s stock worth $21,670,000 after acquiring an additional 20,725 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 2,460 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total value of $369,000.00. Following the transaction, the director owned 2,595,119 shares in the company, valued at approximately $389,267,850. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 13,615 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the transaction, the insider directly owned 81,677 shares of the company’s stock, valued at approximately $12,118,416.49. This trade represents a 14.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,325,429 shares of company stock worth $321,925,435 in the last quarter. Insiders own 27.21% of the company’s stock.

Airbnb Stock Down 1.2%

Shares of Airbnb stock opened at $145.98 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a 52-week low of $110.81 and a 52-week high of $150.88. The company’s 50 day moving average price is $139.13 and its 200-day moving average price is $134.42. The stock has a market capitalization of $87.98 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 1.57 and a beta of 1.14.

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 firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities research analysts forecast that Airbnb, Inc. will post 4.92 EPS for the current year.

More Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Wedbush initiated coverage with a neutral rating and a $152 price target, implying modest upside from recent levels and signaling that analysts still see value in the shares. Article link
• Positive Sentiment: Jefferies reaffirmed its buy rating on Airbnb, supporting the view that Wall Street remains constructive on the company’s longer-term growth outlook. Article link
• Neutral Sentiment: Investors are watching Airbnb’s upcoming fiscal second-quarter earnings report, with analysts expecting double-digit earnings growth; results will likely determine whether the stock can extend recent momentum. Article link
• Neutral Sentiment: Airbnb co-founder Joseph Gebbia sold about $39 million in stock under a pre-arranged 10b5-1 plan. While not necessarily a bearish signal, insider selling can create some investor caution. Article link
• Negative Sentiment: CEO Brian Chesky’s X account was reportedly hacked and used to promote crypto tokenization posts. The incident does not directly affect fundamentals, but it is a reputational and security-related distraction for the company. Article link

Analyst Ratings Changes

Several equities analysts recently commented on ABNB shares. Susquehanna increased their target price on shares of Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a report on Friday, May 8th. Citigroup reissued an “outperform” rating on shares of Airbnb in a research note on Friday, May 8th. Jefferies Financial Group upped their price target on shares of Airbnb from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley cut Airbnb from an “underweight” rating to an “underweight” rating in a research note on Monday, May 4th. Finally, Evercore reiterated an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $159.84.

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.