1,286,000 Shares in Airbnb, Inc. $ABNB Bought by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC acquired 1,286,000 shares of Airbnb in Q2, valued at approximately $170 million, making it the firm's second largest holding at 11% of their portfolio.
• Airbnb's stock has seen significant institutional interest, with Harris Associates increasing their holdings by 86% and other firms also making substantial investments.
• Airbnb reported earnings of $1.03 per share in its last quarter, exceeding estimates, with revenue of $3.10 billion, marking a 12.7% year-over-year increase.

McElhenny Sheffield Capital Management LLC purchased a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,286,000 shares of the company's stock, valued at approximately $170,189,000. Airbnb makes up approximately 11.0% of McElhenny Sheffield Capital Management LLC's holdings, making the stock its 2nd biggest holding. McElhenny Sheffield Capital Management LLC owned 0.21% of Airbnb at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ABNB. Harris Associates L P grew its holdings in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after buying an additional 4,598,125 shares in the last quarter. Pacer Advisors Inc. grew its stake in Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the period. AQR Capital Management LLC lifted its position in shares of Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after buying an additional 1,916,676 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Finally, Consulta Ltd purchased a new position in shares of Airbnb during the 1st quarter valued at $149,325,000. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

ABNB opened at $119.99 on Thursday. The stock's 50 day simple moving average is $124.78 and its 200 day simple moving average is $127.42. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market cap of $74.57 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 2.19 and a beta of 1.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the company earned $0.86 EPS. Airbnb's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In other news, CAO David C. Bernstein sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at approximately $6,051,898. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $124.96, for a total value of $74,976.00. Following the transaction, the chief technology officer directly owned 202,006 shares in the company, valued at $25,242,669.76. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,430,876 shares of company stock valued at $182,694,292. 27.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABNB shares. Citizens Jmp raised Airbnb to a "hold" rating in a report on Monday, August 11th. Phillip Securities raised Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Morgan Stanley lowered their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating on the stock in a report on Thursday, August 7th. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, Mizuho began coverage on Airbnb in a report on Monday, September 29th. They set an "outperform" rating and a $151.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $141.81.

Airbnb 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.

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