Delta Global Management LP Sells 4,438 Shares of Airbnb, Inc. $ABNB

Delta Global Management LP lowered its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 38.4% in the 1st quarter, HoldingsChannel reports. The firm owned 7,116 shares of the company’s stock after selling 4,438 shares during the quarter. Delta Global Management LP’s holdings in Airbnb were worth $899,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Harris Associates L P grew its holdings in Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. Norges Bank purchased a new stake in Airbnb in the fourth quarter worth $480,332,000. Jennison Associates LLC raised its stake in shares of Airbnb by 9,331.0% in the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after buying an additional 3,139,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Airbnb by 453.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after buying an additional 2,724,682 shares during the period. Finally, SRS Investment Management LLC purchased a new position in shares of Airbnb during the 4th quarter valued at $342,017,000. Institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ABNB shares. JPMorgan Chase & Co. increased their price target on Airbnb from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Robert W. Baird boosted their price objective on Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. CICC Research began coverage on shares of Airbnb in a report on Friday, June 5th. They set an “outperform” rating and a $165.00 price objective on the stock. Morgan Stanley lowered shares of Airbnb from an “underweight” rating to an “underweight” rating in a research report on Monday, May 4th. Finally, Truist Financial lifted their target price on shares of Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $148.01, for a total transaction of $555,037.50. Following the completion of the transaction, the chief financial officer owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth I. Chenault sold 8,346 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the sale, the director directly owned 40,879 shares in the company, valued at $6,131,850. This trade represents a 16.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,231,864 shares of company stock valued at $308,474,278. Corporate insiders own 27.21% of the company’s stock.

Airbnb Price Performance

Airbnb stock opened at $141.10 on Monday. Airbnb, Inc. has a one year low of $110.81 and a one year high of $150.88. The business has a fifty day moving average price of $139.84 and a 200-day moving average price of $134.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $85.04 billion, a P/E ratio of 34.75, a PEG ratio of 1.51 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, equities research analysts forecast that Airbnb, Inc. will post 4.93 EPS 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.