SummitTX Capital L.P. Makes New Investment in Airbnb, Inc. $ABNB

SummitTX Capital L.P. bought a new position in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,944 shares of the company's stock, valued at approximately $2,645,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABNB. Family Manage LLC grew its holdings in Airbnb by 8.9% during the 1st quarter. Family Manage LLC now owns 2,886 shares of the company's stock worth $364,000 after acquiring an additional 237 shares during the last quarter. Gateway Wealth Partners LLC acquired a new position in shares of Airbnb during the first quarter worth approximately $230,000. OMERS ADMINISTRATION Corp grew its stake in shares of Airbnb by 21.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 42,696 shares of the company's stock valued at $5,392,000 after purchasing an additional 7,613 shares during the last quarter. Van Diest Capital LLC increased its holdings in shares of Airbnb by 101.8% in the first quarter. Van Diest Capital LLC now owns 5,982 shares of the company's stock valued at $755,000 after purchasing an additional 3,017 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Airbnb by 18.1% in the first quarter. Lombard Odier Asset Management Switzerland SA now owns 22,818 shares of the company's stock valued at $2,881,000 after purchasing an additional 3,500 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Airbnb in a report on Friday, May 22nd. Barclays boosted their target price on Airbnb from $122.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Citizens Jmp upped their price target on Airbnb from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Friday, May 8th. HSBC lowered Airbnb from a "hold" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company lifted their price objective on Airbnb from $178.00 to $181.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $160.23.

Insider Buying and Selling

In other Airbnb news, Director Joseph Gebbia sold 2,460 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $150.00, for a total transaction of $369,000.00. Following the transaction, the director owned 2,595,119 shares in the company, valued at approximately $389,267,850. This trade represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the transaction, the chief financial officer owned 445,290 shares of the company's stock, valued at $65,907,372.90. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,245,479 shares of company stock worth $310,454,308. Company insiders own 27.21% of the company's stock.

Airbnb Price Performance

ABNB opened at $153.11 on Wednesday. The company has a fifty day moving average price of $140.53 and a two-hundred day moving average price of $134.79. The firm has a market capitalization of $92.28 billion, a PE ratio of 37.71, a P/E/G ratio of 1.57 and a beta of 1.14. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $153.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the company earned $0.24 EPS. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Airbnb, Inc. will post 4.93 earnings per share for the current year.

About Airbnb

Airbnb, Inc NASDAQ: ABNB operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company's core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.

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