Interval Partners LP Purchases Shares of 18,232 Airbnb, Inc. $ABNB

Key Points

• Interval Partners LP has made a new investment in Airbnb, acquiring 18,232 shares valued at approximately $2.18 million in the first quarter.
• Institutional investors currently own 80.76% of Airbnb’s stock, with several hedge funds recently increasing their positions in the company.
• Airbnb's stock has seen a 1.2% decline recently, with current trading at $123.81 and analysts maintaining a consensus target price of $142.66.

Interval Partners LP bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 18,232 shares of the company's stock, valued at approximately $2,178,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in Airbnb in the 4th quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in Airbnb in the 4th quarter valued at about $28,000. Stonebridge Financial Group LLC increased its position in 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 acquiring an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its position in 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 acquiring an additional 174 shares in the last quarter. Finally, SouthState Corp increased its position in Airbnb by 216.1% in the 1st quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company's stock.

Insider Activity

In related news, insider Nathan Blecharczyk sold 2,246 shares of Airbnb stock in a transaction that occurred 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 transaction, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer directly owned 42,619 shares in the company, valued at $6,051,898. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,438,926 shares of company stock worth $188,880,433 over the last quarter. 27.83% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ABNB shares. Zacks Research upgraded shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. Cantor Fitzgerald restated an "underweight" rating and issued a $100.00 price objective on shares of Airbnb in a research report on Wednesday, May 14th. Morgan Stanley lowered their price objective 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. Needham & Company LLC reiterated a "hold" rating on shares of Airbnb in a research report on Wednesday, May 14th. Finally, Phillip Securities upgraded shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $142.66.

Airbnb Trading Down 0.6%

Shares of NASDAQ:ABNB traded down $0.81 during trading on Tuesday, hitting $123.81. 3,603,949 shares of the company's stock were exchanged, compared to its average volume of 5,230,597. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a 50-day moving average price of $131.48 and a two-hundred day moving average price of $128.96. The firm has a market cap of $76.94 billion, a P/E ratio of 29.98, a PEG ratio of 2.26 and a beta of 1.13.

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

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.