Credit Agricole S A Sells 200,938 Shares of Airbnb, Inc. $ABNB

Key Points

• Credit Agricole S A reduced its stock holdings in Airbnb, Inc. by 39.6%, selling 200,938 shares during the first quarter, leaving it with 306,458 shares valued at approximately $36.6 million.
• Various institutional investors, including MJP Associates and Harbour Investments, have also adjusted their positions in Airbnb, with hedge funds currently owning 80.76% of the company's stock.
• Airbnb's stock opened at $126.00 on Wednesday, with a market cap of $78.30 billion, and the company recently reported earnings of $1.03 per share, exceeding analysts' expectations.

Credit Agricole S A lowered its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 39.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 306,458 shares of the company's stock after selling 200,938 shares during the quarter. Credit Agricole S A's holdings in Airbnb were worth $36,609,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Airbnb in the 4th quarter worth $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb during the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC raised its position in shares of Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares in the last quarter. Finally, SouthState Corp raised its position in shares of Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Stock Up 2.8%

Airbnb stock traded up $3.49 during midday trading on Friday, reaching $129.92. The stock had a trading volume of 4,561,026 shares, compared to its average volume of 5,640,455. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93. The firm has a market cap of $80.74 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13. The company has a fifty day moving average of $132.62 and a 200 day moving average of $130.55.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. 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. Barclays set a $105.00 target price on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. B. Riley decreased their target price on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Evercore ISI decreased their target price on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $142.72.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $132.28, for a total value of $826,750.00. Following the transaction, the chief financial officer directly owned 467,611 shares in the company, valued at $61,855,583.08. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chesky sold 8,000 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $128.33, for a total transaction of $1,026,640.00. Following the completion of the transaction, the chief executive officer owned 40,800 shares in the company, valued at $5,235,864. This represents a 16.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,692,739 shares of company stock worth $224,363,640 in the last three months. Corporate insiders own 27.91% of the company's stock.

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.