Delta Global Management LP Sells 8,125 Shares of Airbnb, Inc. $ABNB

Key Points

• Delta Global Management LP cut its Airbnb stake by 41.3% in the fourth quarter, selling 8,125 shares and leaving it with 11,554 shares valued at about $1.57 million.
• Institutional ownership remains heavy, with several large funds adding to Airbnb positions and 80.76% of the stock now held by institutions.
• Analysts are mostly positive on ABNB, with recent target-price increases from several firms and a current consensus rating of Moderate Buy at a $157.96 target.

Delta Global Management LP reduced its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,554 shares of the company's stock after selling 8,125 shares during the quarter. Delta Global Management LP's holdings in Airbnb were worth $1,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Harris Associates L P increased its holdings in Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company's stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares in the last quarter. Independent Franchise Partners LLP acquired a new position in Airbnb in the 3rd quarter worth about $505,672,000. Norges Bank acquired a new position in Airbnb in the 4th quarter worth about $480,332,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Airbnb by 453.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company's stock worth $403,782,000 after purchasing an additional 2,724,682 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Airbnb by 58.6% in the 3rd quarter. AQR Capital Management LLC now owns 4,269,937 shares of the company's stock worth $518,456,000 after purchasing an additional 1,577,338 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABNB. Benchmark upped their target price on Airbnb from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Susquehanna upped their target price on Airbnb from $150.00 to $170.00 and gave the stock a "positive" rating in a report on Friday, May 8th. DA Davidson upped their target price on Airbnb from $150.00 to $162.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Tigress Financial lowered their target price on Airbnb from $200.00 to $185.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. Finally, Wells Fargo & Company upped their target price on Airbnb from $178.00 to $181.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.96.

Trending Headlines about Airbnb

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb gained on a market-wide relief rally tied to the reported peace deal and reopening of the Strait of Hormuz, which reduced geopolitical and oil-price fears and supported travel stocks. Why Airbnb (ABNB) Stock Is Trading Up Today
• Neutral Sentiment: Truist raised its price target on Airbnb to $134 from $129, but kept a Hold rating, suggesting limited near-term upside from current levels. Airbnb Price Target Raised by Truist
• Neutral Sentiment: Baron Capital highlighted Airbnb in its latest fund letter, focusing on the company’s resilience as AI reshapes the travel and real estate landscape; this is more of a long-term investment discussion than a direct catalyst. Is Airbnb (ABNB) Resilient to AI Transition?

Airbnb Trading Up 1.6%

Shares of ABNB stock opened at $141.20 on Wednesday. The stock has a market cap of $85.10 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 1.49 and a beta of 1.16. The stock has a 50-day moving average of $135.51 and a 200-day moving average of $131.68. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 1-year low of $110.81 and a 1-year high of $147.25.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company's quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. On average, equities research analysts forecast that Airbnb, Inc. will post 4.91 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Gebbia sold 265,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $135.45, for a total value of $35,894,250.00. Following the completion of the sale, the director owned 3,182,355 shares of the company's stock, valued at approximately $431,049,984.75. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 7,433 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $136.24, for a total value of $1,012,671.92. Following the completion of the sale, the chief financial officer directly owned 449,040 shares of the company's stock, valued at approximately $61,177,209.60. The trade was a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,677,117 shares of company stock valued at $226,595,468. Company insiders own 27.21% of the company's stock.

Airbnb Profile

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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