Hodges Capital Management Inc. Sells 42,458 Shares of Airbnb, Inc. $ABNB

Key Points

• Hodges Capital Management Inc. reduced its stake in Airbnb, Inc. by 38.1%, selling 42,458 shares to hold 68,972 shares valued at approximately $8.24 million.
• Despite the decrease from Hodges, several institutional investors increased their holdings in Airbnb, with Pacer Advisors Inc. raising theirs by an astounding 2,297.4%.
• Airbnb's recent earnings report showed a quarterly revenue of $3.10 billion, surpassing expectations, and a net margin of 22.67%, indicating robust financial performance.

Hodges Capital Management Inc. lessened its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 38.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,972 shares of the company's stock after selling 42,458 shares during the period. Hodges Capital Management Inc.'s holdings in Airbnb were worth $8,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new position in Airbnb in the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC grew its stake in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock worth $29,000 after buying an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in Airbnb by 209.6% in 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. Finally, SouthState Corp grew its stake in Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after buying an additional 201 shares in the last quarter. Institutional investors own 80.76% of the company's stock.

Airbnb Price Performance

ABNB traded down $0.50 during trading on Friday, hitting $122.55. 5,262,734 shares of the stock traded hands, compared to its average volume of 4,155,001. The firm has a market capitalization of $76.16 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The firm has a 50-day moving average of $130.46 and a 200 day moving average of $128.42. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93.

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

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the completion of the sale, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. This represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $127.53, for a total transaction of $30,097,080.00. Following the completion of the transaction, the director owned 1,412,015 shares of the company's stock, valued at $180,074,272.95. This trade represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,326 shares of company stock worth $188,798,155 over the last ninety days. 27.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ABNB shares. Wedbush cut their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. Truist Financial cut their price target on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday, September 3rd. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an "underweight" rating in a research note on Thursday, August 7th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $141.68.

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.