Airbnb, Inc. $ABNB Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd lessened its stake in Airbnb, Inc. (NASDAQ:ABNB) by 99.6% in the first quarter, HoldingsChannel.com reports. The firm owned 38,160 shares of the company’s stock after selling 10,151,735 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Airbnb were worth $4,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harris Associates L P boosted its holdings in Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after buying an additional 4,292,383 shares in the last quarter. Norges Bank purchased a new position in Airbnb in the fourth quarter valued at about $480,332,000. Jennison Associates LLC increased its holdings in Airbnb by 9,331.0% in the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after buying an additional 3,139,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after acquiring an additional 2,724,682 shares during the period. Finally, SRS Investment Management LLC acquired a new stake in shares of Airbnb during the 4th quarter valued at approximately $342,017,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Trading Up 2.6%

Shares of ABNB opened at $141.10 on Friday. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $150.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a 50 day simple moving average of $139.84 and a 200-day simple moving average of $134.62. The stock has a market cap of $85.04 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.24 EPS. Equities analysts forecast that Airbnb, Inc. will post 4.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABNB shares. Truist Financial upped their price target on Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, June 12th. HSBC cut Airbnb from a “hold” rating to a “hold” rating in a report on Monday, May 4th. Benchmark boosted their target price on Airbnb from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Raymond James Financial raised Airbnb from a “market perform” rating to a “strong-buy” rating in a report on Monday, May 4th. Finally, Morgan Stanley downgraded Airbnb from an “underweight” rating to an “underweight” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $159.65.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 13,615 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the sale, the insider owned 81,677 shares of the company’s stock, valued at $12,118,416.49. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 2,460 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total value of $369,000.00. Following the sale, the director directly owned 2,595,119 shares in the company, valued at approximately $389,267,850. The trade was a 0.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,231,864 shares of company stock valued at $308,474,278 over the last three months. Insiders own 27.21% of the company’s stock.

Airbnb Company 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.