ABC Arbitrage SA Acquires New Stake in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• ABC Arbitrage SA acquired 5,022 shares of Airbnb, Inc. valued at approximately $600,000 during the first quarter, reflecting growing institutional interest in the company.
• Airbnb shares opened at $129.96 with a twelve-month low of $99.88 and a high of $163.93, indicating a volatile trading range.
• Insider trading has seen significant activity, with CAO David C. Bernstein selling 5,000 shares and CEO Brian Chesky selling 8,000 shares, accounting for a decrease in their respective holdings。

ABC Arbitrage SA acquired a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,022 shares of the company's stock, valued at approximately $600,000.

A number of other hedge funds have also recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in shares of Airbnb in the 4th quarter worth about $26,000. Orion Capital Management LLC bought a new position in shares of Airbnb in the 4th quarter worth about $28,000. Stonebridge Financial Group LLC boosted its stake in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after acquiring an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares during the period. Finally, BankPlus Trust Department purchased a new position in shares of Airbnb during the first quarter valued at approximately $43,000. 80.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canaccord Genuity Group lowered 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, April 28th. UBS Group decreased their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research note on Thursday. Cantor Fitzgerald restated an "underweight" rating and set a $100.00 target price on shares of Airbnb in a research note on Wednesday, May 14th. Royal Bank Of Canada raised their price target on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, Phillip Securities cut shares of Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $143.59.

Insider Buying and Selling at Airbnb

In other news, CAO David C. Bernstein sold 5,000 shares of the firm'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 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 $6,051,898. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $139.39, for a total value of $83,634.00. Following the completion of the transaction, the chief technology officer owned 209,777 shares of the company's stock, valued at approximately $29,240,816.03. This trade represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,671,023 shares of company stock worth $223,195,427 in the last ninety days. Company insiders own 27.91% of the company's stock.

Airbnb Trading Up 0.8%

ABNB traded up $0.99 during trading on Friday, hitting $121.02. 5,785,507 shares of the company traded hands, compared to its average volume of 4,795,555. The company has a market cap of $75.81 billion, a PE ratio of 29.30, a P/E/G ratio of 2.22 and a beta of 1.13. The stock's 50-day simple moving average is $134.96 and its two-hundred day simple moving average is $130.98. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

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.