Airbnb, Inc. $ABNB Shares Sold by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC has reduced its stake in Airbnb by 39.7%, selling 3,612 shares and leaving it with 5,489 shares valued at approximately $656,000.
• In the first quarter, several institutional investors increased their positions in Airbnb, indicating strong interest, as 80.76% of the stock is now owned by institutional investors.
• Brokerage ratings for Airbnb remain mixed, with a consensus rating of "Hold" and a price target of $142.66, reflecting cautious sentiment among analysts.

Teza Capital Management LLC trimmed its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 39.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,489 shares of the company's stock after selling 3,612 shares during the period. Teza Capital Management LLC's holdings in Airbnb were worth $656,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Park Square Financial Group LLC purchased a new position in shares of Airbnb during the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb during the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC increased its stake 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 purchasing an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in shares of Airbnb by 209.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Finally, SouthState Corp increased its stake in shares of Airbnb by 216.1% during the 1st quarter. SouthState Corp now owns 294 shares of the company's stock worth $35,000 after purchasing an additional 201 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Trading Down 0.4%

ABNB stock traded down $0.50 during trading on Friday, reaching $122.55. The stock had a trading volume of 5,262,734 shares, compared to its average volume of 4,107,296. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a market capitalization of $76.16 billion, a P/E ratio of 29.67, a PEG ratio of 2.25 and a beta of 1.13. The firm has a fifty day moving average price of $130.46 and a 200 day moving average price of $128.50.

Airbnb (NASDAQ:ABNB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share 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 previous year, the firm earned $0.86 EPS. The company's revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABNB shares. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Citizens Jmp raised shares of Airbnb to a "hold" rating in a research note on Monday, August 11th. Wedbush lowered their target price on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company set a $110.00 target price on shares of Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $141.68.

Insider Buying and Selling at Airbnb

In related news, CAO David C. Bernstein sold 5,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $142.00, for a total transaction of $710,000.00. Following the completion of the sale, the chief accounting officer owned 42,619 shares of the company's stock, valued at $6,051,898. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 236,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $127.53, for a total transaction of $30,097,080.00. Following the transaction, the director directly owned 1,412,015 shares of the company's stock, valued at $180,074,272.95. The trade was a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,438,326 shares of company stock worth $188,798,155. 27.91% of the stock is owned by company insiders.

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.