Guggenheim Capital LLC Reduces Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• Guggenheim Capital LLC reduced its stake in Airbnb, Inc. by 19.4% in the first quarter, owning 99,240 shares after selling 23,914 shares.
• Airbnb's stock opened at $129.85, with a market capitalization of $80.69 billion, and a twelve month high of $163.93.
• Insider trading activity included Director Joseph Gebbia selling 236,000 shares for over $30 million, representing a 20% decrease in his shareholding.

Guggenheim Capital LLC reduced its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,240 shares of the company's stock after selling 23,914 shares during the period. Guggenheim Capital LLC's holdings in Airbnb were worth $11,855,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Ieq Capital LLC raised its position in Airbnb by 44.7% during the 1st quarter. Ieq Capital LLC now owns 272,521 shares of the company's stock worth $32,555,000 after purchasing an additional 84,232 shares during the last quarter. Greycroft LP raised its position in Airbnb by 40.0% during the 1st quarter. Greycroft LP now owns 7,000 shares of the company's stock worth $836,000 after purchasing an additional 2,000 shares during the last quarter. Quadcap Wealth Management LLC raised its position in shares of Airbnb by 30.1% in the 1st quarter. Quadcap Wealth Management LLC now owns 4,186 shares of the company's stock worth $500,000 after acquiring an additional 968 shares in the last quarter. Aristides Capital LLC raised its position in shares of Airbnb by 3.6% in the 1st quarter. Aristides Capital LLC now owns 17,137 shares of the company's stock worth $2,047,000 after acquiring an additional 600 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Airbnb by 69.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 593,088 shares of the company's stock valued at $70,850,000 after purchasing an additional 242,846 shares during the period. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the sale, the insider directly owned 182,514 shares of the company's stock, valued at approximately $22,850,752.80. The trade was a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $125.36, for a total value of $29,584,960.00. Following the sale, the director directly owned 15 shares of the company's stock, valued at $1,880.40. This represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,440,546 shares of company stock valued at $191,913,918. Company insiders own 27.83% of the company's stock.

Airbnb Stock Performance

ABNB traded down $4.00 during midday trading on Tuesday, reaching $126.53. 1,404,328 shares of the company were exchanged, compared to its average volume of 5,218,224. The company's fifty day moving average price is $132.20 and its 200 day moving average price is $130.04. The company has a market cap of $78.63 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ABNB. Barclays set a $105.00 target price on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised their target price on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Finally, Susquehanna decreased their target price on Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research note on Monday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $142.72.

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.