HS Management Partners LLC Decreases Stock Holdings in Airbnb, Inc. $ABNB

Key Points

• HS Management Partners LLC reduced its stake in Airbnb, Inc. by 7.8%, now holding 282,810 shares worth approximately $37.4 million, making it the 18th largest holding in their portfolio.
• Corporate insiders have sold 1,437,726 shares of Airbnb stock valued at about $186.7 million over the last three months, indicating potential concerns about the company's future performance.
• Analysts have mixed forecasts for Airbnb, assigning an average rating of "Hold" with a target price of $141.46, as several brokerages recently adjusted their ratings and price targets.

HS Management Partners LLC trimmed its position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 282,810 shares of the company's stock after selling 23,900 shares during the quarter. Airbnb comprises about 3.1% of HS Management Partners LLC's investment portfolio, making the stock its 18th largest holding. HS Management Partners LLC's holdings in Airbnb were worth $37,427,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kentucky Trust Co purchased a new stake in shares of Airbnb during the second quarter valued at about $25,000. Park Square Financial Group LLC purchased a new position in shares of Airbnb in the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC raised its position in shares of Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Airbnb by 363.6% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $123.74, for a total transaction of $74,244.00. Following the transaction, the chief technology officer owned 199,606 shares of the company's stock, valued at $24,699,246.44. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares in the company, valued at $6,051,898. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,437,726 shares of company stock valued at $186,661,639. Corporate insiders own 27.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABNB. Jefferies Financial Group decreased their price objective on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Barclays set a $105.00 price objective on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley reduced their price target on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Airbnb has an average rating of "Hold" and an average target price of $141.46.

Airbnb Trading Up 1.6%

Shares of ABNB opened at $123.70 on Friday. The firm has a market cap of $76.87 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The company's 50-day moving average price is $127.69 and its 200 day moving average price is $127.65. 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 released its 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. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the company posted $0.86 EPS. Airbnb's revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current year.

About Airbnb

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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