TimesSquare Capital Management LLC purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,370 shares of the company’s stock, valued at approximately $445,000.
Several other institutional investors also recently bought and sold shares of ABNB. Price T Rowe Associates Inc. MD purchased a new position in shares of Airbnb during the 4th quarter valued at $1,585,718,000. FMR LLC purchased a new position in shares of Airbnb during the 4th quarter valued at $846,944,000. Jennison Associates LLC grew its holdings in shares of Airbnb by 551.6% during the 1st quarter. Jennison Associates LLC now owns 3,358,931 shares of the company’s stock valued at $631,277,000 after acquiring an additional 2,843,433 shares in the last quarter. Silver Lake Group L.L.C. purchased a new position in shares of Airbnb during the 4th quarter valued at $375,721,000. Finally, Morgan Stanley purchased a new position in shares of Airbnb during the 4th quarter valued at $343,849,000. Institutional investors and hedge funds own 12.75% of the company’s stock.
In related news, CAO David C. Bernstein sold 2,522 shares of the firm’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $135.15, for a total transaction of $340,848.30. Following the sale, the chief accounting officer now directly owns 77,135 shares in the company, valued at $10,424,795.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 5,032 shares of the firm’s stock in a transaction on Monday, June 7th. The stock was sold at an average price of $149.12, for a total transaction of $750,371.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 979,253 shares of company stock worth $134,204,642. Company insiders own 36.30% of the company’s stock.
Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Wednesday, May 12th. The company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.03. The business had revenue of $887.00 million during the quarter, compared to the consensus estimate of $717.99 million. The firm’s revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that Airbnb, Inc. will post -1.1 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Airbnb from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, May 14th. Jefferies Financial Group upped their price objective on shares of Airbnb from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, February 26th. Evercore ISI decreased their price objective on shares of Airbnb from $245.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, May 14th. Loop Capital upped their price objective on shares of Airbnb from $195.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price objective on shares of Airbnb from $162.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, May 14th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $167.97.
Airbnb, Inc, together with its subsidiaries, operates a platform for stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms and luxury villas. The company was formerly known as AirBed & Breakfast, Inc and changed its name to Airbnb, Inc in November 2010.
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