York GP Ltd. Purchases Shares of 50,000 Airbnb, Inc. $ABNB

Key Points

• York GP Ltd. has acquired 50,000 shares of Airbnb, Inc. valued at approximately $6.6 million, making it the company's second largest position at 6.3% of its portfolio.
• Significant insider transactions include Director Joseph Gebbia selling 236,000 shares for nearly $29.6 million, resulting in a 99.99% reduction in his position in the company.
• The consensus rating for Airbnb stock remains at "Hold" with a target price of $141.46, as various analysts offer differing ratings from "Strong Buy" to "Sell."

York GP Ltd. purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 50,000 shares of the company's stock, valued at approximately $6,617,000. Airbnb comprises approximately 6.3% of York GP Ltd.'s portfolio, making the stock its 2nd biggest position.

Other hedge funds also recently bought and sold shares of the company. Kentucky Trust Co purchased a new stake in Airbnb during the second quarter valued at about $25,000. Stonebridge Financial Group LLC lifted its stake 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 buying an additional 106 shares in the last quarter. Armstrong Advisory Group Inc. lifted its stake in Airbnb by 363.6% during 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 in the last quarter. Bartlett & CO. Wealth Management LLC lifted its stake in Airbnb by 209.6% during 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 in the last quarter. Finally, SouthState Corp lifted its stake in Airbnb by 216.1% during the first quarter. SouthState Corp now owns 294 shares of the company's stock valued at $35,000 after buying an additional 201 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the transaction, the director owned 15 shares in the company, valued at $1,880.40. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,326 shares of company stock worth $186,735,385 in the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $122.92 on Tuesday. Airbnb, Inc. has a twelve month low of $99.88 and a twelve month high of $163.93. The firm has a market cap of $76.39 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13. The business has a fifty day moving average of $127.39 and a 200-day moving average of $127.71.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced 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 was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABNB. Truist Financial reduced their price objective on shares of Airbnb from $106.00 to $104.00 and set a "sell" rating for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the company an "underweight" rating in a report on Thursday, August 7th. Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a report on Friday, August 8th. Finally, Barclays set a $105.00 price objective on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $141.46.

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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