Corient IA LLC Acquires New Shares in Airbnb, Inc. $ABNB

Corient IA LLC acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,500 shares of the company’s stock, valued at approximately $299,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in Airbnb during the 4th quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new position in Airbnb during the 4th quarter valued at approximately $28,000. Stonebridge Financial Group LLC boosted its position in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock valued at $29,000 after purchasing an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, SouthState Corp boosted its position in Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company’s stock valued at $35,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABNB. Morgan Stanley reduced their price objective on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Benchmark decreased their price target on Airbnb from $178.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald reissued an “underweight” rating and issued a $100.00 price target on shares of Airbnb in a research note on Wednesday, May 14th. DA Davidson raised Airbnb from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, Citizens Jmp raised Airbnb to a “hold” rating in a research note on Monday, August 11th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $142.72.

Airbnb Stock Up 0.4%

Shares of NASDAQ ABNB opened at $125.10 on Monday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a market cap of $77.74 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.28 and a beta of 1.13. The business has a fifty day simple moving average of $133.76 and a 200-day simple moving average of $130.69.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Airbnb’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 236,000 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $129.71, for a total transaction of $30,611,560.00. Following the completion of the sale, the director directly owned 236,015 shares of the company’s stock, valued at $30,613,505.65. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO David C. Bernstein sold 5,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the sale, the chief accounting officer directly owned 42,619 shares of the company’s stock, valued at approximately $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,671,023 shares of company stock valued at $223,195,427. 27.83% of the stock is currently owned by company insiders.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.