Belmont Capital LLC Has $836,000 Holdings in Airbnb, Inc. $ABNB

Key Points

• Belmont Capital LLC has reduced its stake in Airbnb, Inc. by 30%, selling 2,999 shares and leaving it with 7,001 shares valued at $836,000.
• Insider trading activity includes Joseph Gebbia, Airbnb's Director, selling 236,000 shares for approximately $32.9 million, reflecting a 16.67% decrease in his position.
• Airbnb reported earnings of $1.03 per share, surpassing expectations, and had a 12.7% revenue increase compared to the previous year, with net margins of 22.67%.

Belmont Capital LLC decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,001 shares of the company's stock after selling 2,999 shares during the quarter. Belmont Capital LLC's holdings in Airbnb were worth $836,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Airbnb during the 4th quarter valued at approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Airbnb in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC lifted its position in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC lifted its position in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after acquiring an additional 174 shares during the period. Finally, SouthState Corp lifted its position in shares of Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after acquiring an additional 201 shares during the period. Institutional investors own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company set a $110.00 price objective on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. BNP Paribas upgraded Airbnb to a "hold" rating in a research report on Wednesday, July 16th. BTIG Research reiterated a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Barclays set a $105.00 price objective on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $142.66.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction 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 transaction, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction 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 completion of the transaction, the insider 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,438,926 shares of company stock worth $188,880,433. 27.83% of the stock is owned by company insiders.

Airbnb Price Performance

Shares of Airbnb stock traded up $0.72 during midday trading on Monday, hitting $124.53. 2,317,015 shares of the company were exchanged, compared to its average volume of 5,224,962. The firm has a 50 day simple moving average of $131.64 and a 200-day simple moving average of $129.11. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93. The firm has a market cap of $77.39 billion, a P/E ratio of 30.15, a PEG ratio of 2.26 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts expect that Airbnb, Inc. will post 4.31 earnings per share for the current year.

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.