Ritholtz Wealth Management bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB – Get Rating) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,983 shares of the company's stock, valued at approximately $622,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Polen Capital Management LLC grew its holdings in shares of Airbnb by 30.5% in the 1st quarter. Polen Capital Management LLC now owns 12,953,525 shares of the company's stock valued at $2,224,897,000 after acquiring an additional 3,029,742 shares in the last quarter. Capital Research Global Investors grew its holdings in Airbnb by 23.4% during the first quarter. Capital Research Global Investors now owns 13,837,492 shares of the company's stock worth $2,376,753,000 after purchasing an additional 2,627,359 shares during the period. BlackRock Inc. grew its holdings in Airbnb by 17.7% during the fourth quarter. BlackRock Inc. now owns 8,587,605 shares of the company's stock worth $1,429,753,000 after purchasing an additional 1,292,367 shares during the period. State Street Corp grew its holdings in Airbnb by 55.8% during the fourth quarter. State Street Corp now owns 3,183,778 shares of the company's stock worth $530,067,000 after purchasing an additional 1,139,981 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Airbnb during the first quarter worth about $173,967,000. Institutional investors own 39.45% of the company's stock.
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Insider Transactions at Airbnb
In related news, insider Joseph Gebbia sold 250,000 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $95.32, for a total transaction of $23,830,000.00. Following the transaction, the insider now directly owns 2,750,101 shares of the company's stock, valued at $262,139,627.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Belinda J. Johnson sold 1,000 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $106.98, for a total transaction of $106,980.00. Following the transaction, the director now directly owns 5,920 shares of the company's stock, valued at $633,321.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Gebbia sold 250,000 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $95.32, for a total transaction of $23,830,000.00. Following the transaction, the insider now directly owns 2,750,101 shares in the company, valued at $262,139,627.32. The disclosure for this sale can be found here. Insiders sold a total of 833,644 shares of company stock worth $95,196,464 over the last three months. 32.69% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. UBS Group reduced their price target on Airbnb from $185.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, August 1st. Argus began coverage on shares of Airbnb in a research report on Tuesday, July 26th. They set a "hold" rating for the company. Wolfe Research cut their price objective on shares of Airbnb from $130.00 to $110.00 and set a "peer perform" rating for the company in a research report on Wednesday, June 15th. DA Davidson cut their price objective on shares of Airbnb from $210.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, August 3rd. Finally, Susquehanna cut their price objective on shares of Airbnb from $190.00 to $150.00 and set a "positive" rating for the company in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $157.56.
Airbnb Trading Down 1.9 %
ABNB opened at $101.75 on Monday. Airbnb, Inc. has a twelve month low of $86.71 and a twelve month high of $212.58. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $114.53 and a 200-day moving average of $125.49. The stock has a market cap of $66.01 billion, a PE ratio of 55.60 and a beta of 1.14.
Airbnb (NASDAQ:ABNB – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. Airbnb had a net margin of 16.91% and a return on equity of 26.03%. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, sell-side analysts predict that Airbnb, Inc. will post 2.25 EPS for the current year.
About Airbnb
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Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.
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