Nightview Capital LLC Takes $6.11 Million Position in Airbnb, Inc. $ABNB

Key Points

• Nightview Capital LLC has invested approximately $6.1 million in Airbnb, acquiring 51,181 shares, which constitutes 4% of its portfolio, making it the 8th largest position.
• During the fourth quarter, several institutional investors, including Aptus Capital Advisors and Ameriprise Financial, significantly increased their holdings in Airbnb, reflecting growing interest in the company.
• A recent report indicates that Airbnb's CFO sold shares worth $849,125, while insider sales totaled 1.67 million shares valued at approximately $221.8 million in the past three months.

Nightview Capital LLC bought a new position in Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 51,181 shares of the company's stock, valued at approximately $6,114,000. Airbnb makes up about 4.0% of Nightview Capital LLC's portfolio, making the stock its 8th largest holding.

Several other institutional investors have also made changes to their positions in ABNB. Harris Associates L P increased its position in shares of Airbnb by 86.0% in the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock worth $334,715,000 after acquiring an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Airbnb by 512.0% in the fourth quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after acquiring an additional 2,577,000 shares in the last quarter. AQR Capital Management LLC grew its position in Airbnb by 81.0% during the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company's stock valued at $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Airbnb by 74.4% during the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock valued at $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ABNB. Needham & Company LLC reaffirmed a "hold" rating on shares of Airbnb in a research note on Wednesday, May 14th. Royal Bank Of Canada upped their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. BTIG Research restated a "neutral" rating on shares of Airbnb in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group dropped their price objective on shares of Airbnb from $165.00 to $160.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $142.66.

Insider Buying and Selling

In related news, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. This trade represents a 10.50% 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, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $139.40, for a total transaction of $32,898,400.00. Following the completion of the transaction, the director directly owned 1,180,015 shares in the company, valued at approximately $164,494,091. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,674,926 shares of company stock valued at $221,778,833 in the last 90 days. 27.83% of the stock is owned by insiders.

Airbnb Stock Performance

ABNB traded down $1.56 during midday trading on Friday, hitting $123.81. The company had a trading volume of 4,326,500 shares, compared to its average volume of 4,399,319. The company has a market capitalization of $76.94 billion, a PE ratio of 29.98, a P/E/G ratio of 2.26 and a beta of 1.13. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm's 50-day simple moving average is $131.64 and its 200-day simple moving average is $129.11.

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