17,832 Airbnb, Inc. $ABNB Shares Sold by Investment House LLC

Key Points

• Investment House LLC reduced its Airbnb stake by 21.2%, selling 17,832 shares in the third quarter and retaining 66,180 shares valued at approximately $10.6 million. Institutional investors collectively own 80.76% of Airbnb.
• Airbnb insiders have also been selling shares, including CEO Brian Chesky’s $35.0 million sale and Nathan Blecharczyk’s $92.6 million sale; insiders sold approximately $269.4 million of stock during the last quarter.
• Despite the selling, Airbnb reported quarterly revenue growth of 16.3% and earnings that exceeded analyst estimates. The stock opened at $175.76, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating and an average price target of $181.93.

Investment House LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 21.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,180 shares of the company's stock after selling 17,832 shares during the quarter. Investment House LLC's holdings in Airbnb were worth $10,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reyes Financial Architecture Inc. lifted its holdings in shares of Airbnb by 83.2% during the third quarter. Reyes Financial Architecture Inc. now owns 1,684 shares of the company's stock valued at $271,000 after purchasing an additional 765 shares in the last quarter. Cypress Wealth Services LLC purchased a new position in Airbnb in the 3rd quarter worth about $205,000. Vest Financial LLC raised its position in Airbnb by 103.2% in the 3rd quarter. Vest Financial LLC now owns 4,130 shares of the company's stock worth $663,000 after buying an additional 2,098 shares during the last quarter. Income Insurance Ltd purchased a new position in Airbnb in the 3rd quarter worth about $203,000. Finally, Quadrant Capital Group LLC lifted its stake in Airbnb by 3.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 8,829 shares of the company's stock valued at $1,462,000 after acquiring an additional 319 shares during the period. Institutional investors own 80.76% of the company's stock.

Insider Transactions at Airbnb

In related news, CEO Brian Chesky sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $174.79, for a total value of $34,958,000.00. Following the transaction, the chief executive officer owned 10,501,685 shares of the company's stock, valued at approximately $1,835,589,521.15. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 531,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the sale, the insider owned 171,370 shares of the company's stock, valued at $29,888,641.70. This trade represents a 75.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,550,715 shares of company stock worth $269,396,918 in the last quarter. Company insiders own 27.21% of the company's stock.

Key Stories Impacting Airbnb

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Expanded American Express distribution: Airbnb is partnering with American Express to add more than one million listings to the Amex Travel platform. Eligible U.S. card members will be able to book Airbnb stays and earn rewards, potentially increasing Airbnb’s visibility, bookings, and access to premium travelers. American Express brings Airbnb bookings and rewards to Amex Travel platform
• Positive Sentiment: Analyst support: RBC Capital maintained its Buy rating on ABNB, reinforcing a constructive view of the company’s investment outlook. RBC Capital Keeps Their Buy Rating on Airbnb
• Neutral Sentiment: Guest-policy changes: Airbnb announced new rules limiting the cleaning chores hosts can require before checkout, including restrictions on demanding that guests strip beds or perform other time-consuming tasks. The changes address a long-standing customer complaint, but their effect on booking behavior and host economics remains uncertain. Airbnb Limits Cleaning Chores Hosts Can Require From Guests
• Negative Sentiment: Host backlash risk: Some hosts have threatened to leave the platform in response to the chore limits, raising concerns about listing supply, host relations, and possible implementation costs. Airbnb limits chores for guests, sparking backlash from hosts
• Negative Sentiment: Insider selling: Insider David Bernstein sold 1,369 ABNB shares. While the transaction is small relative to Airbnb’s market value, insider selling can add modestly to investor caution. Airbnb Stock Insider Sells Shares

Airbnb Stock Up 1.2%

ABNB stock opened at $175.76 on Friday. The company has a market cap of $105.24 billion, a price-to-earnings ratio of 39.95, a P/E/G ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The business's 50-day moving average is $172.21 and its two-hundred day moving average is $152.88. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $193.45.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the company posted $1.03 EPS. The business's quarterly revenue was up 16.3% compared to the same quarter last year. As a group, analysts forecast that Airbnb, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James Financial raised shares of Airbnb from a "market perform" rating to an "outperform" rating and set a $200.00 price target on the stock in a report on Tuesday, September 8th. TD Cowen raised shares of Airbnb to a "strong-buy" rating in a report on Monday, September 14th. Evercore set a $200.00 price objective on shares of Airbnb in a research report on Monday, August 24th. Oppenheimer increased their price objective on shares of Airbnb from $180.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Finally, Susquehanna raised their target price on shares of Airbnb from $170.00 to $200.00 and gave the stock a "positive" rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $181.93.

Airbnb Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.

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