Airbnb, Inc. $ABNB Shares Purchased by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC increased its stake in Airbnb by 15.5%, acquiring an additional 43,529 shares, bringing its total holdings to 324,470 shares valued at approximately $38.76 million.
• Airbnb's quarterly earnings exceeded expectations, reporting $1.03 EPS and $3.10 billion in revenue, an increase of 12.7% year-over-year.
• Insider activity showed significant sales, with executives including the CTO and CFO selling shares totaling over $933,000, while insiders collectively owned 27.91% of the company.

Cambiar Investors LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,470 shares of the company's stock after purchasing an additional 43,529 shares during the period. Airbnb makes up approximately 1.6% of Cambiar Investors LLC's portfolio, making the stock its 25th largest position. Cambiar Investors LLC owned about 0.05% of Airbnb worth $38,761,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Roberts Capital Advisors LLC purchased a new position in shares of Airbnb during the 1st quarter worth approximately $540,000. Akre Capital Management LLC grew its holdings in Airbnb by 10.1% during the first quarter. Akre Capital Management LLC now owns 2,917,733 shares of the company's stock worth $348,552,000 after acquiring an additional 268,335 shares during the period. Boston Family Office LLC raised its position in Airbnb by 6.9% in the first quarter. Boston Family Office LLC now owns 2,282 shares of the company's stock worth $273,000 after acquiring an additional 147 shares in the last quarter. Ethic Inc. lifted its holdings in Airbnb by 10.6% in the first quarter. Ethic Inc. now owns 45,812 shares of the company's stock valued at $5,552,000 after acquiring an additional 4,405 shares during the period. Finally, Element Capital Management LLC purchased a new stake in shares of Airbnb during the 1st quarter worth $2,533,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ABNB shares. Evercore ISI cut their price target on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of Airbnb in a research report on Friday, May 2nd. Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Finally, Citigroup lowered their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, Airbnb presently has a consensus rating of "Hold" and a consensus target price of $142.72.

Airbnb Stock Down 0.8%

Shares of ABNB traded down $1.04 during mid-day trading on Wednesday, reaching $124.96. 4,096,563 shares of the company's stock were exchanged, compared to its average volume of 5,306,827. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The company has a market cap of $77.65 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.29 and a beta of 1.13. The company has a 50-day simple moving average of $133.24 and a two-hundred day simple moving average of $130.62.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, equities research analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the sale, the chief accounting officer directly owned 42,619 shares of the company's stock, valued at $6,051,898. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at approximately $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,493 shares of company stock worth $224,082,441 in the last ninety days. 27.83% of the stock is currently owned by insiders.

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.