Shellback Capital LP Takes Position in Airbnb, Inc. $ABNB

Key Points

• Shellback Capital LP has invested $11.9 million in Airbnb, acquiring 100,000 shares of the company's stock during the first quarter, according to a recent SEC filing.
• Airbnb's stock traded down 1.2% and currently has a market capitalization of $76.94 billion, with a 1-year price range between $99.88 and $163.93.
• Recent analysts' reports have resulted in mixed ratings for Airbnb, with price targets ranging from $100 to $165, and a current consensus rating of "Hold."

Shellback Capital LP acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $11,946,000.

Several other large investors have also modified their holdings of ABNB. Harris Associates L P boosted its holdings 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 valued at $1,188,024,000 after acquiring an additional 4,598,125 shares during the period. Pacer Advisors Inc. boosted its holdings 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 valued at $334,715,000 after acquiring an additional 2,685,026 shares during the period. Two Sigma Advisers LP boosted its holdings 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 valued at $404,782,000 after acquiring an additional 2,577,000 shares during the period. AQR Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,916,676 shares during the period. Finally, Principal Financial Group Inc. boosted 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 valued at $388,924,000 after acquiring an additional 1,389,251 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of the 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 completion of the transaction, the chief accounting officer owned 42,619 shares in the company, valued at approximately $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the transaction, the insider owned 182,514 shares of the company's stock, valued at $22,850,752.80. The trade was a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,438,926 shares of company stock worth $188,880,433. 27.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABNB has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. BTIG Research reissued a "neutral" rating on shares of Airbnb in a report on Wednesday, May 28th. UBS Group decreased their price target on Airbnb from $156.00 to $148.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. BNP Paribas raised Airbnb to a "hold" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $142.66.

Airbnb Stock Performance

NASDAQ:ABNB traded down $0.81 during trading hours on Tuesday, hitting $123.81. The company's stock had a trading volume of 3,603,949 shares, compared to its average volume of 4,308,686. The business's 50-day moving average is $131.25 and its two-hundred day moving average is $128.92. The company has a market capitalization of $76.94 billion, a PE ratio of 29.98, a PEG ratio of 2.27 and a beta of 1.13. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last released 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. The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.Airbnb's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb Company 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.