Callan Family Office LLC Purchases 14,005 Shares of Airbnb, Inc. $ABNB

Key Points

• Callan Family Office LLC increased its stake in Airbnb by 163.2% during Q2, acquiring an additional 14,005 shares for a total of 22,589 shares valued at approximately $2.99 million.
• A number of other hedge funds also adjusted their positions in Airbnb, with institutional investors owning 80.76% of the company's stock.
• Airbnb reported better-than-expected earnings with an EPS of $1.03 for the last quarter, surpassing the consensus estimate of $0.92, while its revenue grew by 12.7% year-over-year.

Callan Family Office LLC boosted its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 163.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,589 shares of the company's stock after acquiring an additional 14,005 shares during the period. Callan Family Office LLC's holdings in Airbnb were worth $2,989,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ABNB. Kentucky Trust Co bought a new stake in Airbnb in the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in Airbnb by 70.9% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock worth $26,000 after acquiring an additional 83 shares during the period. Stonebridge Financial Group LLC raised its position 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 acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC raised its position 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 acquiring an additional 174 shares during the period. Finally, Armstrong Advisory Group Inc. raised its position in Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock worth $34,000 after acquiring an additional 200 shares during the period. Institutional investors own 80.76% of the company's stock.

Airbnb Trading Down 1.6%

Shares of NASDAQ:ABNB opened at $118.19 on Friday. The company has a 50 day moving average of $124.34 and a 200 day moving average of $127.27. The stock has a market cap of $73.45 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.19 and a beta of 1.10. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month 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, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. Airbnb's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, equities analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 4,630 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,430,876 shares of company stock valued at $182,694,292 in the last quarter. 27.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wedbush lowered their price objective on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Airbnb in a research report on Wednesday. Royal Bank Of Canada lifted their target price on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on shares of Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Finally, UBS Group reduced their target price on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $141.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.