Caitong International Asset Management Co. Ltd Has $697,000 Stake in Airbnb, Inc. (NASDAQ:ABNB)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Airbnb by 58,210% in Q1, owning 5,831 shares valued at $697,000.
• Several other institutional investors have also adjusted their positions in Airbnb, with overall institutional ownership now at 80.76%.
• Airbnb reported an EPS of $1.03 for the latest quarter, exceeding analysts' expectations, while revenue rose 12.7% year-over-year, totaling $3.10 billion.

Caitong International Asset Management Co. Ltd grew its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 58,210.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,831 shares of the company's stock after purchasing an additional 5,821 shares during the period. Airbnb comprises about 0.5% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 26th biggest position. Caitong International Asset Management Co. Ltd's holdings in Airbnb were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABNB. MJP Associates Inc. ADV increased its stake 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 worth $490,000 after purchasing an additional 67 shares during the last quarter. Ellevest Inc. increased its stake in shares of Airbnb by 3.1% in the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company's stock worth $349,000 after purchasing an additional 80 shares in the last quarter. Harbour Investments Inc. lifted its position in Airbnb by 12.2% during the first 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 first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after buying an additional 83 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in shares of Airbnb by 7.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,337 shares of the company's stock worth $176,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity

In other news, CEO Brian Chesky sold 8,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the completion of the transaction, the chief executive officer owned 40,800 shares in the company, valued at $5,235,864. This trade represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, June 9th. The stock was sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the sale, the director owned 1,180,015 shares of the company's stock, valued at $164,494,091. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,671,023 shares of company stock worth $223,195,427. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABNB shares. Benchmark decreased their target price on Airbnb from $178.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Evercore ISI lowered their price objective on Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. BMO Capital Markets set a $124.00 target price on Airbnb and gave the company a "market perform" rating in a report on Thursday, August 7th. Susquehanna decreased their target price on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating for the company in a research report on Monday, May 5th. Finally, Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $142.72.

Airbnb Price Performance

NASDAQ:ABNB opened at $121.61 on Wednesday. The stock's 50-day moving average is $134.51 and its two-hundred day moving average is $130.82. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market cap of $76.18 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The company had revenue of $3.10 billion for 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%. Airbnb's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share 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.

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