Chicago Capital LLC Buys 2,310 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Chicago Capital LLC increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 57.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,337 shares of the company's stock after buying an additional 2,310 shares during the quarter. Chicago Capital LLC's holdings in Airbnb were worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Airbnb by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company's stock valued at $1,244,514,000 after purchasing an additional 72,991 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company's stock valued at $571,505,000 after buying an additional 2,590,475 shares during the period. Northern Trust Corp raised its stake in shares of Airbnb by 8.4% in the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company's stock valued at $564,647,000 after buying an additional 331,607 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Airbnb by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company's stock worth $548,683,000 after acquiring an additional 558,856 shares during the period. Finally, Norges Bank acquired a new stake in shares of Airbnb in the fourth quarter valued at $433,374,000. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 0.9%

Shares of NASDAQ:ABNB traded down $1.20 during midday trading on Thursday, reaching $132.17. 3,604,951 shares of the company were exchanged, compared to its average volume of 5,019,779. The firm has a market cap of $82.79 billion, a PE ratio of 33.38, a P/E/G ratio of 2.48 and a beta of 1.14. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a fifty day simple moving average of $127.39 and a two-hundred day simple moving average of $130.71.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Airbnb had a net margin of 22.60% and a return on equity of 30.91%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the business posted $0.41 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. B. Riley reduced their price objective on Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. BTIG Research restated a "neutral" rating on shares of Airbnb in a research report on Wednesday, May 28th. Jefferies Financial Group raised Airbnb from a "hold" rating to a "buy" rating and upped their price target for the company from $165.00 to $185.00 in a research note on Monday, March 10th. Phillip Securities cut Airbnb from a "hold" rating to a "moderate sell" rating in a report on Friday, May 9th. Finally, Truist Financial restated a "sell" rating and set a $106.00 target price (down from $112.00) on shares of Airbnb in a research report on Friday, May 30th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $141.23.

Insiders Place Their Bets

In related news, insider Nathan Blecharczyk sold 2,245 shares of Airbnb stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $134.03, for a total transaction of $300,897.35. Following the completion of the transaction, the insider now owns 188,173 shares in the company, valued at approximately $25,220,827.19. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $137.13, for a total value of $82,278.00. Following the completion of the sale, the chief technology officer now owns 213,377 shares in the company, valued at $29,260,388.01. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,624,472 shares of company stock valued at $203,509,100 in the last 90 days. 27.91% 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.