Invenomic Capital Management LP Invests $5.01 Million in Airbnb, Inc. (NASDAQ:ABNB)

Invenomic Capital Management LP acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,497 shares of the company’s stock, valued at approximately $5,009,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farrow Financial Inc. grew its position in shares of Airbnb by 1.0% in the 2nd quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after buying an additional 69 shares during the last quarter. GYL Financial Synergies LLC boosted its stake in Airbnb by 5.0% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after purchasing an additional 76 shares during the period. HB Wealth Management LLC boosted its stake in Airbnb by 1.6% during the 2nd quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock worth $749,000 after purchasing an additional 76 shares during the period. Optas LLC boosted its stake in Airbnb by 4.5% during the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock worth $277,000 after purchasing an additional 78 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in Airbnb by 1.1% during the 2nd quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock worth $1,113,000 after purchasing an additional 79 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Trading Down 0.2 %

Shares of ABNB stock opened at $137.19 on Tuesday. The stock has a 50-day simple moving average of $134.15 and a 200 day simple moving average of $135.25. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market capitalization of $86.97 billion, a P/E ratio of 48.24, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $2.39 earnings per share. On average, sell-side analysts expect that Airbnb, Inc. will post 4.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $121.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada cut their target price on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Barclays boosted their target price on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. B. Riley cut their target price on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, DA Davidson boosted their target price on shares of Airbnb from $125.00 to $131.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.97.

Insider Buying and Selling

In other news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. This trade represents a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $72,000.00. Following the sale, the chief technology officer now directly owns 195,844 shares of the company’s stock, valued at $23,501,280. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 718,017 shares of company stock valued at $91,842,052. Corporate insiders own 27.83% of the company’s stock.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.