Chicago Partners Investment Group LLC Has $1.73 Million Position in Airbnb, Inc. $ABNB

Key Points

• Chicago Partners Investment Group LLC increased its stake in Airbnb, Inc. by 21.9% in Q2, holding shares worth approximately $1.73 million after purchasing additional shares during the quarter.
• Airbnb reported strong earnings in its last quarter, with $1.03 EPS, surpassing estimates, and revenue of $3.10 billion, a 12.7% increase year-over-year.
• Institutional investors and hedge funds collectively own 80.76% of Airbnb's stock, indicating significant confidence in the company's performance and potential growth.

Chicago Partners Investment Group LLC raised its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 21.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,347 shares of the company's stock after purchasing an additional 2,221 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Airbnb were worth $1,726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABNB. Harris Associates L P increased its position in Airbnb by 86.0% during the 1st 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 period. Pacer Advisors Inc. increased its position in Airbnb by 2,297.4% during the 1st 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 period. AQR Capital Management LLC increased its position in Airbnb by 81.0% during the 1st 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 period. Principal Financial Group Inc. increased its position in Airbnb by 74.4% during the 1st 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 period. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in Airbnb during the 2nd quarter valued at approximately $170,189,000. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Stock Performance

Airbnb stock opened at $127.21 on Tuesday. The stock has a market capitalization of $79.05 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 2.30 and a beta of 1.10. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The stock's 50 day moving average price is $124.17 and its two-hundred day moving average price is $127.54.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABNB. Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Zacks Research raised shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. BTIG Research restated a "neutral" rating on shares of Airbnb in a report on Tuesday, October 7th. JPMorgan Chase & Co. increased their price target on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, BNP Paribas upgraded Airbnb to a "hold" rating in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Airbnb currently has an average rating of "Hold" and a consensus target price of $141.81.

Insider Transactions at Airbnb

In other news, CFO Elinor Mertz sold 4,630 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $119.22, for a total transaction of $28,135,920.00. Following the sale, the director directly owned 704,015 shares of the company's stock, valued at approximately $83,932,668.30. The trade was a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,431,476 shares of company stock valued at $178,130,616 over the last three months. Corporate insiders own 27.83% of the company's stock.

Airbnb Company 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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