FORA Capital LLC Trims Holdings in Airbnb, Inc. $ABNB

Key Points

• FORA Capital LLC reduced its holdings in Airbnb, Inc. by 24.4% during the first quarter, selling 5,493 shares and leaving it with 17,004 shares valued at approximately $2.03 million.
• Other large investors have shown varying levels of confidence in Airbnb, with Caisse DE Depot ET Placement DU Quebec increasing its stake by 69.3%, while Jump Financial LLC boosted its position by 193.6%.
• Airbnb's stock opened at $126.89 and has experienced a market capitalization of $78.85 billion, with quarterly revenue growth of 12.7% year-over-year.

FORA Capital LLC decreased its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,004 shares of the company's stock after selling 5,493 shares during the quarter. FORA Capital LLC's holdings in Airbnb were worth $2,031,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec raised its position in Airbnb by 69.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 593,088 shares of the company's stock worth $70,850,000 after buying an additional 242,846 shares during the last quarter. Freedom Investment Management Inc. acquired a new stake in shares of Airbnb in the first quarter worth $832,000. ICONIQ Capital LLC raised its holdings in shares of Airbnb by 70.4% during the first quarter. ICONIQ Capital LLC now owns 2,708 shares of the company's stock worth $323,000 after purchasing an additional 1,119 shares during the last quarter. Jump Financial LLC lifted its position in Airbnb by 193.6% during the first quarter. Jump Financial LLC now owns 42,397 shares of the company's stock valued at $5,065,000 after purchasing an additional 27,956 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Airbnb by 1,291.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 328,486 shares of the company's stock valued at $39,241,000 after purchasing an additional 304,885 shares during the period. Hedge funds and other institutional investors own 80.76% of the company's stock.

Airbnb Stock Down 1.0%

ABNB opened at $126.89 on Wednesday. The company has a market cap of $78.85 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The company has a 50-day moving average price of $132.31 and a 200 day moving average price of $130.47.

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

Insider Transactions at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Monday, July 7th. The shares were sold at an average price of $135.86, for a total transaction of $849,125.00. Following the sale, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the sale, the director directly owned 944,015 shares of the company's stock, valued at $122,212,181.90. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,454,830 shares of company stock valued at $193,751,948 in the last 90 days. 27.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ABNB. Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. BNP Paribas upgraded Airbnb to a "hold" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price objective on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Jefferies Financial Group cut their target price on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, Susquehanna lowered their price target on shares of Airbnb from $200.00 to $150.00 and set a "positive" rating on the stock in a report on Monday, May 5th. Two 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $142.72.

Airbnb 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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