Clarkston Capital Partners LLC Sells 47,735 Shares of Airbnb, Inc. $ABNB

Clarkston Capital Partners LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 24.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 149,060 shares of the company’s stock after selling 47,735 shares during the quarter. Airbnb makes up approximately 1.4% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Clarkston Capital Partners LLC’s holdings in Airbnb were worth $18,823,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of ABNB. Mizuho Markets Americas LLC bought a new stake in shares of Airbnb in the 1st quarter worth about $2,980,000. Alamar Capital Management LLC bought a new position in Airbnb during the 1st quarter valued at about $2,531,000. State of Wyoming raised its position in Airbnb by 184.5% in the 1st quarter. State of Wyoming now owns 1,559 shares of the company’s stock worth $197,000 after purchasing an additional 1,011 shares during the period. Cetera Investment Advisers lifted its stake in Airbnb by 5.7% in the first quarter. Cetera Investment Advisers now owns 148,123 shares of the company’s stock worth $18,705,000 after purchasing an additional 7,949 shares during the last quarter. Finally, ABN Amro Investment Solutions lifted its stake in Airbnb by 3.8% in the first quarter. ABN Amro Investment Solutions now owns 21,441 shares of the company’s stock worth $2,708,000 after purchasing an additional 780 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Down 1.8%

ABNB opened at $137.57 on Friday. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88. The company has a market capitalization of $82.91 billion, a P/E ratio of 33.88, a PEG ratio of 1.50 and a beta of 1.14. The stock’s fifty day moving average is $139.68 and its two-hundred day moving average is $134.58. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the company posted $0.24 EPS. Airbnb’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts forecast that Airbnb, Inc. will post 4.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ABNB shares. Citizens Jmp upped their target price on Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Wedbush initiated coverage on Airbnb in a research note on Thursday, July 16th. They issued a “neutral” rating and a $152.00 target price on the stock. The Goldman Sachs Group set a $155.00 target price on Airbnb in a research report on Monday. B. Riley Financial reissued a “buy” rating on shares of Airbnb in a research note on Friday, May 8th. Finally, Morgan Stanley cut shares of Airbnb from an “underweight” rating to an “underweight” rating in a report 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.65.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 2,460 shares of Airbnb stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total transaction of $369,000.00. Following the transaction, the director directly owned 2,595,119 shares of the company’s stock, valued at $389,267,850. This trade represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth I. Chenault sold 8,346 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the completion of the transaction, the director directly owned 40,879 shares of the company’s stock, valued at $6,131,850. This trade represents a 16.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,231,864 shares of company stock worth $308,474,278. 27.21% of the stock is owned by company 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.