Element Capital Management LLC Takes $2.53 Million Position in Airbnb, Inc. $ABNB

Key Points

• Element Capital Management LLC purchased 21,203 shares of Airbnb, Inc. for approximately $2.5 million, indicating growing institutional interest in the company.
• Airbnb's most recent quarterly earnings beat estimates, with $1.03 earnings per share, significantly surpassing the consensus of $0.92, and total revenue of $3.10 billion.
• Current analyst ratings for Airbnb include 19 hold, 13 buy, and 5 sell ratings, with an average price target of $142.72, reflecting cautious optimism among investors.

Element Capital Management LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 21,203 shares of the company's stock, valued at approximately $2,533,000.

Other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Airbnb in the fourth quarter worth about $26,000. Orion Capital Management LLC bought a new position in Airbnb during the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC increased its stake in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after acquiring an additional 106 shares during the period. Bartlett & CO. Wealth Management LLC increased its stake in Airbnb by 209.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after acquiring an additional 174 shares during the period. Finally, SouthState Corp increased its stake in Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after acquiring an additional 201 shares during the period. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.0%

NASDAQ:ABNB traded down $1.2140 during trading hours on Wednesday, hitting $124.7860. 2,789,719 shares of the stock were exchanged, compared to its average volume of 5,298,190. The company's 50 day moving average is $133.24 and its two-hundred day moving average is $130.62. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a market capitalization of $77.55 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.13.

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

Wall Street Analysts Forecast Growth

ABNB has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Susquehanna lowered their price target on Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a research note on Monday, May 5th. Citigroup lowered their price target on Airbnb from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Citizens Jmp upgraded Airbnb to a "hold" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $142.72.

Insider Transactions at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $132.28, for a total transaction of $826,750.00. Following the transaction, the chief financial officer owned 467,611 shares of the company's stock, valued at approximately $61,855,583.08. This represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,454,493 shares of company stock worth $194,497,481 in the last quarter. 27.83% of the stock is owned by corporate insiders.

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.