Airbnb, Inc. $ABNB Stake Lessened by ASK Capital Management LLC

ASK Capital Management LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.3% during the 4th quarter, HoldingsChannel reports. The fund owned 60,252 shares of the company’s stock after selling 8,420 shares during the period. Airbnb accounts for 1.1% of ASK Capital Management LLC’s portfolio, making the stock its 2nd biggest position. ASK Capital Management LLC’s holdings in Airbnb were worth $8,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Dynasty Wealth Management LLC boosted its stake in shares of Airbnb by 8.5% during the 4th quarter. Dynasty Wealth Management LLC now owns 4,578 shares of the company’s stock worth $621,000 after acquiring an additional 360 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Airbnb by 6.6% during the 4th quarter. Natixis Advisors LLC now owns 130,744 shares of the company’s stock worth $17,745,000 after acquiring an additional 8,120 shares in the last quarter. Fielder Capital Group LLC boosted its stake in shares of Airbnb by 67.9% during the 4th quarter. Fielder Capital Group LLC now owns 3,797 shares of the company’s stock worth $515,000 after acquiring an additional 1,535 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Airbnb during the 4th quarter worth about $31,000. Finally, Root Financial Partners LLC boosted its stake in shares of Airbnb by 38.1% during the 4th quarter. Root Financial Partners LLC now owns 359 shares of the company’s stock worth $49,000 after acquiring an additional 99 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Airbnb

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Bernstein reiterated a Buy rating on Airbnb and kept a $168 price target, citing global growth potential and monetization upside. Analyst Reiterates Buy on Airbnb, Citing Global Growth and Monetization Upside with Unchanged $168 Price Target
• Positive Sentiment: Another market note said Airbnb has underperformed the S&P 500 over the past year, but analysts are still cautiously optimistic about the stock’s outlook. Is Airbnb Stock Underperforming the S&P 500?
• Neutral Sentiment: Airbnb was highlighted in articles discussing its inclusion in Jeff Bezos’ portfolio, which is more of a sentiment/visibility factor than a direct business catalyst. Airbnb, Inc. (ABNB): One of the Top Stocks in the Jeff Bezos Portfolio
• Negative Sentiment: CEO Brian Chesky disclosed multiple stock sales, including a large June 1 sale, which may signal reduced insider confidence and is likely the main drag on ABNB sentiment today.
• Negative Sentiment: Airbnb’s recent insider filings showed Chesky trimming his ownership by millions of dollars’ worth of shares, adding to concerns about near-term insider selling pressure.

Insider Activity

In other news, CEO Brian Chesky sold 184,513 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $135.80, for a total value of $25,056,865.40. Following the completion of the sale, the chief executive officer owned 10,917,939 shares of the company’s stock, valued at $1,482,656,116.20. This represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nathan Blecharczyk sold 2,739 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $131.40, for a total transaction of $359,904.60. Following the completion of the sale, the insider directly owned 81,631 shares of the company’s stock, valued at approximately $10,726,313.40. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,277,173 shares of company stock valued at $172,229,040 in the last 90 days. Company insiders own 27.21% of the company’s stock.

Airbnb Stock Down 2.6%

ABNB stock opened at $134.35 on Wednesday. The company has a market cap of $80.97 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.48 and a beta of 1.16. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 12 month low of $110.81 and a 12 month high of $147.25. The firm has a 50-day moving average of $134.07 and a two-hundred day moving average of $130.37.

Airbnb (NASDAQ:ABNB) last released 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 business had revenue of $2.68 billion during 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%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Oppenheimer upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research report on Monday, May 4th. Argus upgraded shares of Airbnb to a “strong-buy” rating in a research report on Tuesday, February 17th. Truist Financial upgraded shares of Airbnb from a “sell” rating to a “hold” rating and upped their price target for the stock from $107.00 to $129.00 in a research report on Thursday, March 26th. Finally, HSBC downgraded shares of Airbnb from a “hold” rating to a “hold” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Airbnb has a consensus rating of “Moderate Buy” and a consensus price target of $157.67.

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.