US Bancorp DE Decreases Holdings in Airbnb, Inc. $ABNB

Key Points

• US Bancorp DE has decreased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 13.7%, now holding 105,886 shares after selling 16,794 shares during the second quarter.
• Several institutional investors are actively adjusting their positions in Airbnb, with firms like Stonebridge Financial Group LLC and Bartlett & CO. Wealth Management LLC significantly increasing their holdings in recent quarters.
• Despite mixed opinions from analysts, Airbnb has an average price target of $141.81, with a consensus rating of "Hold" and a recent earnings report showing better-than-expected performance.

US Bancorp DE trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 13.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,886 shares of the company's stock after selling 16,794 shares during the period. US Bancorp DE's holdings in Airbnb were worth $14,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABNB. Kentucky Trust Co purchased a new position in Airbnb during the second quarter valued at $25,000. Stonebridge Financial Group LLC lifted its holdings in Airbnb by 75.7% during the first quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Airbnb by 209.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 257 shares of the company's stock valued at $31,000 after buying an additional 174 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company's stock valued at $34,000 after buying an additional 200 shares during the last quarter. Finally, SouthState Corp raised its position in shares of Airbnb by 216.1% in the first quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after buying an additional 201 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ABNB shares. Royal Bank Of Canada increased their target price on shares of Airbnb from $140.00 to $145.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. BNP Paribas upgraded shares of Airbnb to a "hold" rating in a research report on Wednesday, July 16th. Morgan Stanley reduced their target price on shares of Airbnb from $130.00 to $120.00 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on shares of Airbnb and gave the company an "underweight" rating in a research report on Thursday, August 7th. Finally, Wedbush reduced their target price on shares of Airbnb from $135.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and an average price target of $141.81.

Airbnb Stock Performance

Shares of ABNB stock opened at $118.19 on Friday. The stock has a market capitalization of $73.45 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The company has a 50 day moving average price of $124.34 and a 200 day moving average price of $127.27. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 22.67% and a return on equity of 32.19%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity

In other news, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer directly owned 444,070 shares of the company's stock, valued at approximately $57,027,469.40. The trade was a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, September 29th. The stock was sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the sale, the director directly owned 940,015 shares of the company's stock, valued at approximately $116,157,653.55. This trade represents a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,430,876 shares of company stock valued at $182,694,292 in the last 90 days. Company insiders own 27.91% of the company's stock.

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.

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