Meritage Group LP Acquires Shares of 1,269,499 Airbnb, Inc. (NASDAQ:ABNB)

Meritage Group LP acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,269,499 shares of the company's stock, valued at approximately $160,985,000. Airbnb accounts for approximately 3.8% of Meritage Group LP's investment portfolio, making the stock its 13th biggest position. Meritage Group LP owned 0.20% of Airbnb as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its holdings in Airbnb by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 159,765 shares of the company's stock valued at $20,260,000 after purchasing an additional 5,761 shares during the period. MML Investors Services LLC raised its stake in Airbnb by 26.0% in the 3rd quarter. MML Investors Services LLC now owns 66,100 shares of the company's stock valued at $8,382,000 after acquiring an additional 13,635 shares during the period. Main Management ETF Advisors LLC purchased a new stake in Airbnb during the third quarter valued at about $787,000. XTX Topco Ltd bought a new position in Airbnb during the third quarter worth about $592,000. Finally, National Bank of Canada FI increased its stake in shares of Airbnb by 75.0% in the third quarter. National Bank of Canada FI now owns 359,800 shares of the company's stock worth $45,626,000 after purchasing an additional 154,193 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America reaffirmed a "hold" rating and issued a $142.00 price objective (up from $132.00) on shares of Airbnb in a report on Friday, October 11th. Mizuho reduced their price target on Airbnb from $175.00 to $170.00 and set an "outperform" rating for the company in a research report on Friday, September 13th. Raymond James started coverage on Airbnb in a research note on Friday, September 27th. They set a "market perform" rating and a $134.00 price objective on the stock. Sanford C. Bernstein reduced their target price on Airbnb from $174.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, September 17th. Finally, Argus downgraded shares of Airbnb from a "buy" rating to a "hold" rating in a report on Wednesday, September 4th. Six equities research 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 company has a consensus rating of "Hold" and an average target price of $138.94.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 19,448 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $137.14, for a total value of $2,667,098.72. Following the completion of the transaction, the director now owns 2,509 shares of the company's stock, valued at $344,084.26. This represents a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 10,500 shares of Airbnb stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $136.97, for a total value of $1,438,185.00. Following the sale, the chief financial officer now directly owns 503,738 shares in the company, valued at $68,996,993.86. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,465 shares of company stock valued at $96,015,340. Corporate insiders own 27.83% of the company's stock.

Airbnb Trading Up 0.4 %

ABNB stock traded up $0.60 on Monday, reaching $136.92. The company's stock had a trading volume of 4,295,842 shares, compared to its average volume of 4,632,778. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. The business has a fifty day simple moving average of $134.92 and a two-hundred day simple moving average of $134.97. The firm has a market cap of $86.80 billion, a PE ratio of 48.04, a PEG ratio of 1.91 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the business posted $2.39 EPS. As a group, research analysts forecast that Airbnb, Inc. will post 3.99 EPS for the current year.

Airbnb Company 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.