Airbnb, Inc. $ABNB is SC US Ttgp LTD.'s 10th Largest Position

Key Points

• SC US Ttgp LTD. reduced its holdings in Airbnb, Inc. by 0.6%, owning 511,074 shares valued at approximately $61 million after selling 3,125 shares in the first quarter.
• Institutional investors have shown increased confidence in Airbnb, with Sit Investment Associates Inc. and Vestmark Advisory Solutions Inc. boosting their holdings by 42.8% and 74.8%, respectively.
• Airbnb's stock opened at $129.92 with a market cap of $80.74 billion, and the company reported quarterly earnings of $1.03 per share, exceeding expectations.

SC US Ttgp LTD. lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 511,074 shares of the company's stock after selling 3,125 shares during the quarter. Airbnb accounts for about 0.6% of SC US Ttgp LTD.'s holdings, making the stock its 10th biggest position. SC US Ttgp LTD. owned about 0.08% of Airbnb worth $61,053,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MJP Associates Inc. ADV increased its holdings in shares of Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company's stock valued at $490,000 after acquiring an additional 67 shares during the last quarter. Ellevest Inc. raised its position in Airbnb by 3.1% in the 4th quarter. Ellevest Inc. now owns 2,655 shares of the company's stock valued at $349,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. raised its position in Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company's stock valued at $88,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Airbnb by 4.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock valued at $237,000 after buying an additional 83 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Airbnb by 7.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity

In related news, Director Joseph Gebbia sold 236,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the completion of the transaction, the director directly owned 944,015 shares of the company's stock, valued at $122,212,181.90. This trade represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer directly owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,445,355 shares of company stock worth $192,533,558. Insiders own 27.91% of the company's stock.

Airbnb Stock Up 0.5%

Shares of Airbnb stock traded up $0.61 on Thursday, hitting $130.46. The stock had a trading volume of 3,614,123 shares, compared to its average volume of 5,249,440. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The business's 50 day moving average is $132.26 and its two-hundred day moving average is $130.47. The stock has a market cap of $81.07 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share 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 firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The company's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of analyst reports. BMO Capital Markets set a $124.00 price objective on Airbnb and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Evercore ISI decreased their target price on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. BTIG Research restated a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. Finally, Jefferies Financial Group dropped their target price on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. 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 data from MarketBeat.com, Airbnb presently has an average rating of "Hold" and a consensus price target of $142.72.

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.