Los Angeles Capital Management LLC reduced its position in shares of Airbnb, Inc. (NASDAQ: ABNB – Get a rating) by 0.7% during the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The company held 40,060 shares of the company after selling 285 shares during the period. Los Angeles Capital Management LLC’s holdings in Airbnb were worth $6,881,000 at the end of the last reporting period.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Camden Capital LLC bought a new stake in Airbnb during Q1 worth $280,000. Laird Norton Trust Company LLC increased its position in Airbnb shares by 4.7% in Q1. Laird Norton Trust Company LLC now owns 7,643 shares of the company worth $1,312,000 after buying 341 additional shares in the last quarter. Grimes & Company Inc. increased its position in Airbnb shares by 98.4% in Q1. Grimes & Company Inc. now owns 4,294 shares of the company worth $738,000 after purchasing an additional 2,130 shares in the last quarter. Quadrant Capital Group LLC increased its position in Airbnb shares by 181.0% in Q1. Quadrant Capital Group LLC now owns 177 shares of the company worth $30,000 after purchasing an additional 114 shares in the last quarter. Finally, American Assets Capital Advisers LLC purchased a new Airbnb equity stake in Q1 for approximately $12,469,000. Hedge funds and other institutional investors hold 34.66% of the company’s shares.
Insider buying and selling
In related news, CTO Aristotle N. Balogh sold 2,500 shares of the company in a transaction that took place on Monday, August 1. The shares were sold at an average price of $110.00, for a total value of $275,000.00. Following the sale, the CTO now directly owns 258,703 shares of the company, valued at approximately $28,457,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. In related news, insider Joseph Gebbia sold 15,523 shares of the company in a transaction that took place on Wednesday, July 27. The shares were sold at an average price of $106.01, for a total value of $1,645,593.23. Following the sale, the insider now directly owns 200,552 shares of the company, valued at approximately $21,260,517.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, CTO Aristotle N. Balogh sold 2,500 shares of the company in a trade that took place on Monday, August 1. The stock was sold at an average price of $110.00, for a total transaction of $275,000.00. Following the completion of the sale, the chief technology officer now owns 258,703 shares of the company, valued at $28,457,330. Disclosure of this sale can be found here. Insiders sold 598,934 shares of the company worth $59,771,495 in the past ninety days. 32.69% of the shares are currently held by company insiders.
Airbnb trades down 1.8%
Shares of NASDAQ: ABNB opened at $117.11 on Monday. The company has a 50-day moving average of $104.78 and a 200-day moving average of $135.52. The company has a market capitalization of $75.29 billion, a P/E ratio of 63.99 and a beta of 1.22. Airbnb, Inc. has a 12-month low of $86.71 and a 12-month high of $212.58. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt ratio of 0.38.
Airbnb (NASDAQ: ABNB – Get a rating) last released its quarterly results on Tuesday, August 2. The company reported earnings per share of $0.56 for the quarter, beating analyst consensus estimates 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 period last year, the company posted ($0.11) earnings per share. As a group, analysts expect Airbnb, Inc. to post earnings per share of 2.2 for the current fiscal year.
Wall Street analysts predict growth
Several equity research analysts have recently weighed in on ABNB shares. UBS Group lowered its price target on Airbnb shares from $185.00 to $120.00 and set a “neutral” rating for the company in a Monday, Aug. 1 research report. Mizuho lowered its price target on Airbnb shares from $175.00 to $135.00 and set a “neutral” rating for the company in a Wednesday, Aug. 3 research report. KeyCorp cut its price target on Airbnb shares from $195.00 to $145.00 and set an “overweight” rating for the company in a Monday, Aug. 1, report. Deutsche Bank Aktiengesellschaft lowered its price target on Airbnb shares from $120.00 to $110.00 and set a “holding” rating for the company in a Wednesday, Aug. 3 report. Finally, Barclays lowered its price target on Airbnb shares from $185.00 to $170.00 in a Wednesday May 4 report. One analyst rated the security with a sell rating, seventeen issued a hold rating and sixteen assigned a buy rating. Based on data from MarketBeat, Airbnb currently has a consensus rating of “Hold” and an average price target of $158.97.
Airbnb Profile
Airbnb, Inc., together with its affiliates, operates a platform that enables hosts to provide stays and experiences to travelers around the world. The company’s marketplace model connects hosts and guests online or via mobile devices to book spaces and experiences. It mainly offers private rooms, main residences or vacation homes.
Further reading
Want to see what other hedge funds own ABNB? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Airbnb, Inc. (NASDAQ: ABNB – Get a rating).
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