Greenland Capital Management LP Sells 16,604 Shares of Airbnb, Inc. $ABNB

Key Points

• Greenland Capital Management cut its Airbnb stake by 68.5% in the second quarter, selling 16,604 shares and retaining 7,638 shares valued at approximately $1.09 million.
• Analyst sentiment remains broadly positive: Airbnb has a “Moderate Buy” consensus rating and an average price target of $177.07, while several firms recently raised targets as high as $200.
• Airbnb reported stronger-than-expected quarterly results, with $1.37 in EPS and $3.61 billion in revenue, up 16.3% year over year; however, substantial recent insider selling could weigh on investor sentiment.

Greenland Capital Management LP lessened its holdings in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 68.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,638 shares of the company's stock after selling 16,604 shares during the quarter. Greenland Capital Management LP's holdings in Airbnb were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Caxton Associates LLP purchased a new position in shares of Airbnb in the first quarter worth about $258,000. Intech Investment Management LLC increased its stake in Airbnb by 55.8% in the 1st quarter. Intech Investment Management LLC now owns 12,161 shares of the company's stock worth $1,453,000 after purchasing an additional 4,353 shares during the period. Sivia Capital Partners LLC increased its stake in Airbnb by 18.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company's stock worth $776,000 after purchasing an additional 927 shares during the period. WINTON GROUP Ltd bought a new stake in Airbnb in the second quarter valued at approximately $411,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Airbnb by 9.8% during the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company's stock valued at $7,153,000 after purchasing an additional 4,811 shares during the period. 80.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ABNB. Citigroup upped their price target on shares of Airbnb from $175.00 to $193.00 and gave the company a "buy" rating in a report on Friday, August 7th. Citizens Jmp boosted their price objective on shares of Airbnb from $170.00 to $190.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Phillip Securities lowered shares of Airbnb from a "hold" rating to a "moderate sell" rating in a report on Tuesday, August 11th. Susquehanna raised their target price on Airbnb from $170.00 to $200.00 and gave the stock a "positive" rating in a research note on Friday, August 7th. Finally, KeyCorp restated a "sector weight" rating on shares of Airbnb in a report on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Airbnb has an average rating of "Moderate Buy" and an average target price of $177.07.

Trending Headlines about Airbnb

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage with a Buy recommendation and a $220 price target, adding a bullish view to Airbnb’s analyst coverage and implying potential upside. Rosenblatt initiates coverage of Airbnb
• Positive Sentiment: ABNB recently moved above its 20-day moving average, a short-term technical signal that may attract momentum-oriented investors. Airbnb overtakes 20-day moving average
• Positive Sentiment: Airbnb named Pepijn Rijvers chief business officer. His previous experience at Tripadvisor and Booking.com could support the company’s expansion into hotels and broader travel offerings. Airbnb names Pepijn Rijvers chief business officer
• Neutral Sentiment: Bank of America Securities maintained its Hold rating, indicating limited change to its existing view. Separately, Tesla-related discussion of robotaxi fleets being “Airbnb meets Uber” is not a direct change to Airbnb’s fundamentals. Bank of America maintains Hold rating
• Negative Sentiment: Proposed European Union rules could restrict short-term rental homes, potentially reducing available listings or limiting Airbnb’s activity in an important market. The draft proposal represents a material regulatory risk to supply, bookings and growth. Proposed EU rules affecting short-term rentals
• Negative Sentiment: Insider selling may weigh on sentiment. Chief Accounting Officer David Bernstein sold 5,224 shares for approximately $953,000, while a separate filing reported an additional roughly $2.55 million insider sale. The transactions may reflect personal financial planning, but they reduce insider ownership and can concern investors. Airbnb insider stock sale

Insider Activity at Airbnb

In related news, insider Nathan Blecharczyk sold 531,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the transaction, the insider directly owned 171,370 shares of the company's stock, valued at $29,888,641.70. This represents a 75.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia Jr. sold 294,903 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the completion of the sale, the director owned 2,622,452 shares of the company's stock, valued at $389,250,550.36. This trade represents a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,292,884 shares of company stock worth $375,558,036 over the last 90 days. 27.21% of the stock is owned by company insiders.

Airbnb Stock Performance

NASDAQ:ABNB opened at $181.94 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The firm's fifty day simple moving average is $163.03 and its 200 day simple moving average is $144.12. The stock has a market cap of $108.94 billion, a P/E ratio of 41.35, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $193.45.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the business earned $1.03 EPS. The company's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, research analysts predict that Airbnb, Inc. will post 5.23 EPS for the current year.

About Airbnb

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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