The Vanguard Group, Inc. recently announced the acquisition of new stake in Airbnb Inc (NASDAQ:ABNB). The institutional investor has increased its shareholding in the Consumer Cyclical company by 41.06% to 32.48 million shares with purchase of 9.45 million shares. This fresh investment now brings its stake to 7.46% valued currently at $4.1 billion. In addition, BlackRock Fund Advisors raised its holdings by 4.98 million to 17.7 million shares. And SSgA Funds Management, Inc. has lifted its position by 90.33% or 7.64 million shares – to 16.09 million shares.
Currently, there are 640.05M common shares owned by the public and among those 412.79M shares have been available to trade.
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Insiders at the company have transacted a total of 292 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 5,151,189 shares. Insider sales of the common stock occurred on 258 occasions, with total insider shares sold totaling 15,475,397 shares.
The top 3 mutual fund holders in Airbnb Inc are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. American Funds Growth Fund of Ame owns 21.35 million shares of the company’s stock, all valued at over $2.7 billion. The company sold -0.87 million shares recently to bring their total holdings to about 4.90% of the shares outstanding. Vanguard Total Stock Market ETF bought 65352.0 shares to see its total holdings expand to 12.68 million shares valued at over $1.6 billion and representing 2.91% of the shares outstanding. Vanguard 500 Index Fund bought 45203.0 shares to bring its total holdings to over 10.31 million shares at a value of $1.3 billion. Vanguard 500 Index Fund now owns shares totaling to 2.37% of the shares outstanding.
However, the script later moved the day high at 148.61, down -0.40%. The company’s stock has a 5-day price change of 4.53% and 6.45% over the past three months. ABNB shares are trading 71.82% year to date (YTD), with the 12-month market performance up to 64.02% higher. It has a 12-month low price of $81.91 and touched a high of $154.95 over the same period. ABNB has an average intraday trading volume of 5.50 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.38%, 15.47%, and 15.88% respectively.
Institutional ownership of Airbnb Inc (NASDAQ: ABNB) shares accounts for 51.88% of the company’s 640.05M shares outstanding. Mutual fund holders own 47.02%, while other institutional holders and individual stakeholders account for 8.95% and 29.47% respectively.
It has a market capitalization of $94.03B and a beta (3y monthly) value of 1.26. The stock’s trailing 12-month PE ratio is 17.80, while the earnings-per-share (ttm) stands at $8.26. The company has a PEG of 0.81 and a Quick Ratio of 1.78 with the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.31% over the week and 2.85% over the month.
Analysts forecast that Airbnb Inc (ABNB) will achieve an EPS of $ACNB Corporation for the current quarter, $43.99 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Ameris Bancorp while analysts give the company a high EPS estimate of $American National Bankshares, I. Comparatively, EPS for the current quarter was $Algonquin Power & Utilities Cor a year ago. Earnings per share for the fiscal year are expected to increase by 191.86%, and -46.62% over the next financial year.
Looking at the support for the ABNB, a number of firms have released research notes about the stock. Barclays stated their Underweight rating for the stock in a research note on December 12, 2023, with the firm’s price target at $135-$100.
