GFG Capital LLC Has $140,000 Holdings in Airbnb, Inc. $ABNB

Key Points

• GFG Capital LLC significantly reduced its holdings in Airbnb, Inc. (ABNB) by 97.9%, now owning only 1,057 shares valued at $140,000.
• Several institutional investors, including Geneos Wealth Management and Harbour Investments, have recently changed their stakes in Airbnb, indicating a mix of increased and decreased positions.
• Analysts have varied ratings for Airbnb, with the average target price now set at $141.81 and a predominant rating of "Hold" amidst changing price targets from major firms.

GFG Capital LLC cut its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 97.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,057 shares of the company's stock after selling 49,128 shares during the quarter. GFG Capital LLC's holdings in Airbnb were worth $140,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ABNB. Geneos Wealth Management Inc. boosted its position in Airbnb by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 5,058 shares of the company's stock worth $604,000 after purchasing an additional 78 shares during the last quarter. Harbour Investments Inc. boosted its position in Airbnb by 12.2% in the first quarter. Harbour Investments Inc. now owns 738 shares of the company's stock worth $88,000 after purchasing an additional 80 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in Airbnb by 4.4% in the first quarter. Koshinski Asset Management Inc. now owns 1,984 shares of the company's stock worth $237,000 after purchasing an additional 83 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock valued at $26,000 after buying an additional 83 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Airbnb by 31.6% during the 1st quarter. Rakuten Securities Inc. now owns 379 shares of the company's stock valued at $45,000 after buying an additional 91 shares during the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of recent research reports. Truist Financial dropped their price target on Airbnb from $106.00 to $104.00 and set a "sell" rating on the stock in a research report on Wednesday, September 3rd. Wedbush dropped their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Mizuho initiated coverage on Airbnb in a research report on Monday, September 29th. They set an "outperform" rating and a $151.00 price target on the stock. Phillip Securities raised Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $141.81.

Airbnb Stock Performance

Shares of ABNB opened at $119.99 on Thursday. The stock's 50-day simple moving average is $124.78 and its 200 day simple moving average is $127.42. The stock has a market capitalization of $74.57 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share (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 analysts' expectations of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $128.42, for a total transaction of $594,584.60. Following the sale, the chief financial officer owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 2,246 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider owned 182,514 shares in the company, valued at $22,850,752.80. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,430,876 shares of company stock worth $182,694,292. Company insiders own 27.91% of the company's stock.

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.

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