SummitTX Capital L.P. bought a new position in Airbnb, Inc. (NASDAQ:ABNB – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,944 shares of the company’s stock, valued at approximately $2,645,000.
A number of other large investors have also recently added to or reduced their stakes in ABNB. Caxton Associates LLP bought a new stake in shares of Airbnb in the first quarter valued at about $258,000. Intech Investment Management LLC boosted its position in shares of 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 buying an additional 4,353 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of 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 buying an additional 927 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Airbnb during the second quarter worth about $411,000. Finally, NewEdge Advisors LLC raised its position in Airbnb by 9.8% in the 2nd quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock valued at $7,153,000 after buying an additional 4,811 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.
Airbnb Stock Performance
Shares of NASDAQ ABNB opened at $153.11 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a 50 day moving average price of $140.53 and a 200 day moving average price of $134.79. The stock has a market capitalization of $92.28 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $153.19.
Analysts Set New Price Targets
Several research firms have commented on ABNB. Needham & Company LLC began coverage on Airbnb in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $173.00 price target on shares of Airbnb in a research note on Thursday, May 21st. Barclays lifted their price objective on shares of Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Cantor Fitzgerald raised shares of Airbnb from a “neutral” rating to an “overweight” rating in a research report on Monday, May 4th. Finally, Oppenheimer upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.23.
Get Our Latest Analysis on Airbnb
Insider Activity at Airbnb
In related news, Director Joseph Gebbia sold 294,903 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the sale, the chief executive officer directly owned 11,206,389 shares in the company, valued at $1,481,708,753.58. This trade represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,245,479 shares of company stock valued at $310,454,308. 27.21% of the stock is owned by corporate insiders.
About Airbnb
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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