Perpetual Ltd Sells 14,818 Shares of Airbnb, Inc. $ABNB

Key Points

• Perpetual Ltd significantly reduced its position in Airbnb, Inc. by selling 14,818 shares, bringing its total holding down to 2,418 shares valued at approximately $320,000.
• Several institutional investors, including Harris Associates and Pacer Advisors, have increased their stakes in Airbnb substantially, indicating overall positive sentiment among institutional investors.
• Analysts have differing outlooks on Airbnb, with price targets ranging from $105 to $145, noting a consensus rating of "Hold" and an average target price of $141.19.

Perpetual Ltd lessened its stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 86.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,418 shares of the company's stock after selling 14,818 shares during the quarter. Perpetual Ltd's holdings in Airbnb were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABNB. Harris Associates L P increased its holdings in Airbnb by 86.0% in the first quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Airbnb by 2,297.4% in the first quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares during the last quarter. AQR Capital Management LLC increased its holdings in Airbnb by 81.0% in 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 during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Airbnb by 74.4% in the first quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company's stock worth $388,924,000 after acquiring an additional 1,389,251 shares in the last quarter. Finally, Consulta Ltd bought a new stake in shares of Airbnb in the first quarter worth about $149,325,000. Institutional investors own 80.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Morgan Stanley lowered their price target on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Barclays set a $105.00 price target on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Wedbush lowered their price target on Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 price target on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $141.19.

Airbnb Price Performance

Shares of Airbnb stock opened at $127.04 on Monday. The business has a 50-day simple moving average of $129.15 and a 200 day simple moving average of $127.86. The firm has a market capitalization of $78.95 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.32 and a beta of 1.13. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. On average, sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 600 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the transaction, the chief technology officer directly owned 202,006 shares of the company's stock, valued at $25,242,669.76. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the completion of the transaction, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,437,726 shares of company stock worth $186,665,593. Company insiders own 27.83% of the company's stock.

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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