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 $4.42 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 414.03M shares have been available to trade.
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Insiders at the company have transacted a total of 282 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 5,139,554 shares. Insider sales of the common stock occurred on 249 occasions, with total insider shares sold totaling 15,195,512 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 18.62 million shares of the company’s stock, all valued at over $2.53 billion. The company sold -2.72 million shares recently to bring their total holdings to about 4.28% of the shares outstanding. Vanguard Total Stock Market ETF sold -1.09 million shares to see its total holdings shrink to 11.6 million shares valued at over $1.58 billion and representing 2.66% of the shares outstanding. Vanguard 500 Index Fund bought 0.23 million shares to bring its total holdings to over 10.62 million shares at a value of $1.45 billion. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
However, the script later moved the day high at 143.93, up 0.20%. The company’s stock has a 5-day price change of 5.39% and 22.16% over the past three months. ABNB shares are trading 4.52% year to date (YTD), with the 12-month market performance up to 40.50% higher. It has a 12-month low price of $99.84 and touched a high of $154.95 over the same period. ABNB has an average intraday trading volume of 5.10 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 3.35%, 5.69%, and 10.50% respectively.
Institutional ownership of Airbnb Inc (NASDAQ: ABNB) shares accounts for 51.96% of the company’s 640.05M shares outstanding. Mutual fund holders own 46.12%, while other institutional holders and individual stakeholders account for 8.70% and 30.61% respectively.
It has a market capitalization of $91.08B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 17.24, while the earnings-per-share (ttm) stands at $8.26. The company has a PEG of 0.78 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 2.76% over the week and 2.30% over the month.
Analysts forecast that Airbnb Inc (ABNB) will achieve an EPS of $0.64 for the current quarter, $0.23 for the next quarter and $4.43 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of $1.01. Comparatively, EPS for the current quarter was $0.48 a year ago. Earnings per share for the fiscal year are expected to increase by 194.24%, and -47.45% over the next financial year.
Looking at the support for the ABNB, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on January 09, 2024, with the firm’s price target at $134.
