CX Institutional Trims Holdings in Airbnb, Inc. $ABNB

CX Institutional lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 16.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,163 shares of the company’s stock after selling 12,279 shares during the period. CX Institutional’s holdings in Airbnb were worth $8,752,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. North Dakota State Investment Board acquired a new position in Airbnb in the 4th quarter valued at about $2,785,000. Merit Financial Group LLC grew its stake in shares of Airbnb by 72.1% in the 4th quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock valued at $4,478,000 after buying an additional 13,818 shares during the period. North Star Asset Management Inc. increased its holdings in shares of Airbnb by 13.4% during the 4th quarter. North Star Asset Management Inc. now owns 78,564 shares of the company’s stock worth $10,663,000 after buying an additional 9,294 shares during the last quarter. Oxbow Advisors LLC increased its holdings in shares of Airbnb by 122.9% during the 4th quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock worth $6,842,000 after buying an additional 27,793 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Airbnb by 18.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,291 shares of the company’s stock valued at $30,305,000 after buying an additional 34,573 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ABNB. Rodman & Renshaw started coverage on Airbnb in a report on Monday, May 4th. They issued a “buy” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $173.00 target price on shares of Airbnb in a research note on Thursday, May 21st. Benchmark lifted their target price on Airbnb from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Tigress Financial reduced their target price on Airbnb from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Barclays upped their price target on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Two equities 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.65.

Airbnb Price Performance

Airbnb stock opened at $150.64 on Tuesday. The company’s 50 day simple moving average is $141.99 and its 200-day simple moving average is $135.15. The company has a market capitalization of $90.79 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14. Airbnb, Inc. has a 1 year low of $110.81 and a 1 year high of $156.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities research analysts expect that Airbnb, Inc. will post 4.93 earnings per share for the current year.

Insider Transactions at Airbnb

In other Airbnb news, Director Kenneth I. Chenault sold 8,346 shares of the company’s stock in a transaction 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 transaction, the director directly owned 40,879 shares in the company, valued at $6,131,850. This represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Blecharczyk sold 13,615 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $145.43, for a total value of $1,980,029.45. Following the transaction, the insider owned 12,370 shares of the company’s stock, valued at approximately $1,798,969.10. This represents a 52.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,448,729 shares of company stock worth $340,387,098 in the last ninety days. 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.