On May 20th, 2023, institutional investor BNP PARIBAS ASSET MANAGEMENT Holding S.A. announced that it had increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by a staggering 2,355.8%. According to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 76,595 of the company’s shares after purchasing an additional 73,476 during the fourth quarter of the previous year. As of its latest SEC filing, this brings BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s total holdings in Airbnb to a value of $6,549,000.
This news comes just days after Airbnb released their quarterly earnings results on May 9th. The platform has reported earnings per share (EPS) of $0.18 for Q1 – beating analyst expectations by $0.08 and marking an increase from last year’s ($0.03) EPS for Q1. This growth is primarily due to an impressive revenue figure of $1.82 billion compared to the consensus estimate of $1.79 billion – up by 20.5% from last year’s Q1.
Analysts expect Airbnb to post an EPS of 3.44 for the current year based on projected trends and advancements so far this year.
Airbnb operates as a global platform connecting hosts offering stays and experiences with guests who wish to book them through their online or mobile devices worldwide. The model facilitates private rooms or homes as well as vacation homes for travelers seeking authentic local experiences.
BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s increase in position is a testament to Airbnb’s continued growth trajectory in the hospitality industry both nationally and internationally – providing investors with much excitement and anticipation for what lies ahead in this market segment across all travel verticals into the future!
Airbnb Holdings Show Shifts in Hedge Fund and Institutional Investments[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ABNB” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
Airbnb, Inc., the popular marketplace for travelers to book unique accommodations and experiences, has seen recent modifications in its holdings by various hedge funds and institutional investors. The first quarter of 2023 saw Wellesley Asset Management acquire a new stake in Airbnb valued at approximately $121,000. Meanwhile, during the fourth quarter of last year, American National Bank grew its holdings in Airbnb by a staggering 886.7%, resulting in acquiring an additional 266 shares worth $25,000. TCI Wealth Advisors Inc. also grew its holdings in Airbnb shares by over 96% during the third quarter of 2022, with Psagot Value Holdings Ltd Israel buying new stakes worth $38,000 around the same time frame.
Recently, Parkside Financial Bank & Trust also announced it had lifted its position in Airbnb by another 33% in the first quarter of this year. As per records of May 20th, hedge funds and institutional investors now collectively own as much as 39.02% of Airbnb’s stock.
Shares of NASDAQ:ABNB fell nearly $4 down to $108.18 during midday trading on Friday but have an impressive market capitalization base worth over $69 billion today with P/E ratio close to 37 times earnings and a quick ratio of almost double that (1.55). In terms of one-year performance trends, they ranged from low figures around $81 up to a high level of $144.
Despite not-so-upbeat recommendations from companies like KeyCorp and Bank Of America who’ve recently reduced their price targets for ABNB shares from $144 down to around $135 due to underperforming markets trends recently analyzed by equities research analysts- people still love using Airbnb as their booking platform- especially with so many unique rooms or full residences worldwide available.
In corporate news for Airbnb itself though; CFO Dave Stephenson sold over one thousand shares in March this year for a total value of almost $130,000. Still, following that transaction, the insider held substantial shares worth over $16.5 million at their current market rates. Another major stakeholder in Airbnb’s Vice-chairman and Reconstruction founder Joseph Gebbia sold as many as 8,890 shares of the company’s stock three months ago as well and Chief Financial Officer Dave Stephenson sold a similar number of shares around that time frame too.
Currently, insiders have sold an impressive over 3 million companies ABNB stocks totaling near $372 million in the past 90 days alone- equating to over 30 percent of the total stock holdings held by corporate insiders today.