Two Creeks Capital Management LP Cuts Stake in Airbnb, Inc. (NASDAQ:ABNB)

Two Creeks Capital Management LP cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,703 shares of the company's stock after selling 230,563 shares during the quarter. Airbnb makes up about 4.5% of Two Creeks Capital Management LP's investment portfolio, making the stock its 8th biggest position. Two Creeks Capital Management LP owned about 0.09% of Airbnb worth $72,762,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABNB. Advisory Resource Group lifted its stake in shares of Airbnb by 25.7% during the 3rd quarter. Advisory Resource Group now owns 10,434 shares of the company's stock worth $1,323,000 after acquiring an additional 2,131 shares during the last quarter. Virtu Financial LLC purchased a new position in Airbnb in the third quarter worth $609,000. Wilmington Savings Fund Society FSB acquired a new position in Airbnb during the 3rd quarter valued at about $648,000. Tri Ri Asset Management Corp purchased a new position in shares of Airbnb in the 3rd quarter valued at approximately $6,352,000. Finally, Retirement Systems of Alabama lifted its stake in shares of Airbnb by 5.7% during the third quarter. Retirement Systems of Alabama now owns 341,031 shares of the company's stock worth $43,246,000 after buying an additional 18,407 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Insider Buying and Selling

In related news, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total value of $28,926,324.00. Following the transaction, the insider now directly owns 164,850 shares in the company, valued at $26,046,300. This represents a 52.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 38,461 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $129.87, for a total transaction of $4,994,930.07. Following the completion of the transaction, the chief executive officer now directly owns 12,421,986 shares in the company, valued at approximately $1,613,243,321.82. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,213,131 shares of company stock worth $300,179,370 in the last quarter. Insiders own 27.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ABNB shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a report on Friday, February 14th. Canaccord Genuity Group reduced their price objective on Airbnb from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Monday. JMP Securities reissued a "market perform" rating on shares of Airbnb in a research note on Friday, February 14th. Cantor Fitzgerald reduced their price objective on Airbnb from $130.00 to $101.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, B. Riley increased their price target on shares of Airbnb from $131.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $146.22.

Airbnb Price Performance

Shares of NASDAQ ABNB traded up $0.28 during mid-day trading on Monday, hitting $122.79. 3,096,451 shares of the stock were exchanged, compared to its average volume of 4,793,975. The company has a market cap of $77.42 billion, a P/E ratio of 29.68, a PEG ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 1.69. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $165.50. The stock's fifty day simple moving average is $125.67 and its two-hundred day simple moving average is $131.90.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. As a group, analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

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.