Intrinsic Value Partners LLC Makes New $362,000 Investment in Airbnb, Inc. $ABNB

Key Points

• Intrinsic Value Partners LLC has made a new investment of $362,000 in Airbnb, Inc., acquiring 2,736 shares during the second quarter.
• Despite solid earnings, with revenue up 12.7% year-over-year and EPS surpassing estimates, Airbnb's stock recently declined by 1.0%, opening at $120.22.
• A significant portion of Airbnb's stock, currently about 80.76%, is owned by institutional investors, indicating strong institutional interest in the company.

Intrinsic Value Partners LLC bought a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,736 shares of the company's stock, valued at approximately $362,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ABNB. Kentucky Trust Co acquired a new position in Airbnb in the second quarter valued at about $25,000. Stonebridge Financial Group LLC grew its position in shares of Airbnb by 75.7% during 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 during the period. Bartlett & CO. Wealth Management LLC increased its stake 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 acquiring an additional 174 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 acquiring an additional 200 shares during the period. Finally, SouthState Corp boosted its stake in Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after acquiring an additional 201 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 1.0%

Shares of ABNB stock opened at $120.22 on Friday. The firm has a fifty day moving average of $125.86 and a 200-day moving average of $127.57. Airbnb, Inc. has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a market capitalization of $74.71 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.22 and a beta of 1.10.

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 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 company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The firm's revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In other news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares of the company's stock, valued at $57,027,469.40. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $122.91, for a total transaction of $73,746.00. Following the sale, the chief technology officer directly owned 199,006 shares of the company's stock, valued at $24,459,827.46. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,673,726 shares of company stock worth $215,816,143 over the last three months. 27.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of analyst reports. Phillip Securities raised shares of Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. Jefferies Financial Group decreased their price target on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, August 11th. Zacks Research raised shares of Airbnb to a "hold" rating in a report on Tuesday, August 12th. Wells Fargo & Company set a $110.00 price target on shares of Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Finally, Wedbush decreased their price target on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $141.81.

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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