Chemistry Wealth Management LLC Increases Position in Airbnb, Inc. $ABNB

Key Points

• Chemistry Wealth Management LLC has increased its stake in Airbnb, Inc. by 71.2% during the second quarter, owning 10,522 shares valued at approximately $1.39 million.
• Multiple institutional investors have substantially increased their holdings in Airbnb, with Harris Associates L P and Pacer Advisors Inc. raising their positions by 86% and 2,297.4%, respectively, this year.
• Airbnb reported a quarterly earnings beat with $1.03 earnings per share, exceeding expectations, while analysts have mixed ratings but a consensus target price of $141.68.

Chemistry Wealth Management LLC lifted its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 71.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,522 shares of the company's stock after purchasing an additional 4,375 shares during the period. Chemistry Wealth Management LLC's holdings in Airbnb were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABNB. Harris Associates L P lifted its position in Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. lifted its position in Airbnb by 2,297.4% during the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. Two Sigma Advisers LP lifted its position in Airbnb by 512.0% during the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock valued at $404,782,000 after purchasing an additional 2,577,000 shares during the last quarter. AQR Capital Management LLC lifted its position in Airbnb by 81.0% during the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb Trading Down 0.4%

Shares of NASDAQ ABNB opened at $122.55 on Monday. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a 50 day simple moving average of $130.46 and a two-hundred day simple moving average of $128.42. The stock has a market cap of $76.16 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 2.24 and a beta of 1.13.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABNB shares. Royal Bank Of Canada increased their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Barclays set a $105.00 target price on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. BNP Paribas raised shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Wedbush reduced their target price on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, BTIG Research reissued a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $141.68.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the sale, the chief technology officer owned 202,006 shares of the company's stock, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $127.53, for a total transaction of $30,097,080.00. Following the sale, the director directly owned 1,412,015 shares in the company, valued at approximately $180,074,272.95. This trade represents a 14.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,438,326 shares of company stock worth $188,798,155 in the last 90 days. 27.83% of the stock is owned by insiders.

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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