Algert Global LLC Purchases New Position in Airbnb, Inc. $ABNB

Key Points

• Algert Global LLC has made a new investment of approximately $2.98 million in Airbnb, acquiring 24,910 shares of the company.
• Multiple institutional investors have significantly increased their holdings in Airbnb, with Pacer Advisors Inc. alone growing its stake by 2,297.4% in the first quarter.
• Airbnb shares opened at $124.96 but saw a decrease of 0.8%; the company reported earnings of $1.03 per share, beating estimates.

Algert Global LLC bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,910 shares of the company's stock, valued at approximately $2,976,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in Airbnb in the fourth quarter worth $26,000. Orion Capital Management LLC purchased a new stake in Airbnb in the fourth quarter worth $28,000. Stonebridge Financial Group LLC grew its stake in Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after purchasing an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC grew its stake 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, SouthState Corp grew its stake in Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares during the period. Institutional investors own 80.76% of the company's stock.

Analyst Upgrades and Downgrades

ABNB has been the topic of several recent research reports. B. Riley reduced their price target on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Truist Financial reaffirmed a "sell" rating and set a $106.00 price objective (down previously from $112.00) on shares of Airbnb in a research report on Friday, May 30th. JMP Securities reaffirmed a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Phillip Securities raised Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald reissued an "underweight" rating and issued a $100.00 target price on shares of Airbnb in a research note on Wednesday, May 14th. 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 issued a Sell rating to the stock. According to MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and an average target price of $142.72.

Airbnb Stock Down 1.1%

NASDAQ:ABNB traded down $1.44 on Monday, hitting $128.48. The stock had a trading volume of 1,384,305 shares, compared to its average volume of 5,263,926. The stock has a market cap of $79.84 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 2.37 and a beta of 1.13. The business's 50-day simple moving average is $132.62 and its two-hundred day simple moving average is $130.54. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.02 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Insiders Place Their Bets

In other Airbnb news, 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 transaction of $29,584,960.00. Following the sale, the director directly owned 15 shares of the company's stock, valued at $1,880.40. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at approximately $22,850,752.80. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,692,739 shares of company stock worth $224,363,640. Insiders own 27.83% of the company's stock.

About Airbnb

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.