Gallagher Capital Advisors LLC Sells 2,317 Shares of Airbnb, Inc. $ABNB

Key Points

• Gallagher Capital Advisors LLC has reduced its stake in Airbnb, Inc. by 56.5%, selling 2,317 shares and now holding 1,785 shares valued at $249,000.
• Airbnb's latest quarterly earnings report showed an EPS of $1.03, exceeding analysts' expectations, along with a revenue of $3.10 billion for the quarter.
• Insider transactions included sales from CFO Elinor Mertz and co-founder Nathan Blecharczyk, which contributed to insiders selling over 1.4 million shares worth approximately $177.3 million in the past 90 days.

Gallagher Capital Advisors LLC lessened its position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 56.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,785 shares of the company's stock after selling 2,317 shares during the period. Gallagher Capital Advisors LLC's holdings in Airbnb were worth $249,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Kentucky Trust Co acquired a new stake in shares of Airbnb during the second quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Airbnb by 70.9% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock worth $26,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners acquired a new stake in shares of Airbnb in the second quarter valued at $28,000. Stonebridge Financial Group LLC raised its holdings in shares of Airbnb by 75.7% in the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $127.19 on Thursday. The business's 50-day simple moving average is $124.36 and its 200-day simple moving average is $127.54. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The stock has a market capitalization of $79.04 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABNB. UBS Group lowered their price objective on shares of Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group reduced their price objective on Airbnb from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Mizuho initiated coverage on Airbnb in a research note on Monday, September 29th. They issued an "outperform" rating and a $151.00 target price for the company. Barclays set a $105.00 target price on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Airbnb has an average rating of "Hold" and an average target price of $141.81.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total transaction of $281,199.20. Following the transaction, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elinor Mertz sold 4,630 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares in the company, valued at approximately $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,425,876 shares of company stock worth $177,336,982 over the last 90 days. 27.91% of the stock is currently owned by insiders.

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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