Investidor Profissional Gestao de Recursos Ltda. trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 51.1% during the first quarter, Holdings Channel reports. The institutional investor owned 19,928 shares of the company’s stock after selling 20,852 shares during the period. Airbnb makes up about 0.8% of Investidor Profissional Gestao de Recursos Ltda.’s holdings, making the stock its 17th largest position. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Airbnb were worth $2,517,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ABNB. Caxton Associates LLP bought a new position in shares of Airbnb in the first quarter valued at approximately $258,000. Intech Investment Management LLC raised its holdings in Airbnb by 55.8% during the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after purchasing an additional 4,353 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Airbnb by 18.8% during the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after purchasing an additional 927 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Airbnb in the second quarter worth approximately $411,000. Finally, NewEdge Advisors LLC lifted its position in Airbnb by 9.8% in the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock worth $7,153,000 after purchasing an additional 4,811 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Airbnb from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $170.00 target price on shares of Airbnb in a research note on Friday, May 8th. Oppenheimer raised Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Monday, May 4th. Evercore reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Finally, Benchmark lifted their price objective on shares of Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Moderate Buy” and an average price target of $159.65.
Insider Activity
In other Airbnb news, Director Kenneth I. Chenault sold 8,346 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the sale, the director directly owned 40,879 shares of the company’s stock, valued at $6,131,850. The trade was a 16.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $148.37, for a total value of $2,020,057.55. Following the completion of the sale, the insider owned 81,677 shares of the company’s stock, valued at $12,118,416.49. The trade was a 14.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,231,864 shares of company stock worth $308,474,278 in the last quarter. Insiders own 27.21% of the company’s stock.
Airbnb Trading Down 0.6%
NASDAQ:ABNB opened at $144.10 on Wednesday. The stock has a fifty day simple moving average of $139.46 and a 200 day simple moving average of $134.52. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $86.85 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $150.88.
Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. Airbnb’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Sell-side analysts forecast that Airbnb, Inc. will post 4.92 earnings per share for the current year.
Airbnb Profile
Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.
Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.
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