Caxton Associates LLP Sells 16,493 Shares of Airbnb, Inc. $ABNB

Caxton Associates LLP reduced its position in Airbnb, Inc. (NASDAQ:ABNB) by 67.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,009 shares of the company’s stock after selling 16,493 shares during the period. Caxton Associates LLP’s holdings in Airbnb were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC grew its stake in shares of Airbnb by 55.8% during the 1st quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock valued at $1,453,000 after purchasing an additional 4,353 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Airbnb by 18.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after purchasing an additional 927 shares during the period. WINTON GROUP Ltd bought a new position in shares of Airbnb in the 2nd quarter worth approximately $411,000. NewEdge Advisors LLC boosted its holdings in shares of Airbnb by 9.8% in the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock worth $7,153,000 after buying an additional 4,811 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Airbnb by 1.4% in the second quarter. Treasurer of the State of North Carolina now owns 198,659 shares of the company’s stock worth $26,291,000 after buying an additional 2,702 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

ABNB opened at $141.10 on Monday. 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, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $150.88. The firm’s fifty day moving average is $139.84 and its 200 day moving average is $134.61. The stock has a market cap of $85.04 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 88,366 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $145.81, for a total value of $12,884,646.46. Following the completion of the transaction, the insider owned 12,370 shares of the company’s stock, valued at $1,803,669.70. This represents a 87.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Gebbia sold 294,903 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total value of $43,772,452.29. Following the sale, the director owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. This represents a 10.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,231,864 shares of company stock worth $308,474,278 over the last ninety days. Corporate insiders own 27.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ABNB. Tigress Financial reduced their target price on shares of Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Cantor Fitzgerald upgraded shares of Airbnb from a “neutral” rating to an “overweight” rating in a research note on Monday, May 4th. Benchmark boosted their price objective on shares of Airbnb from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group upped their price objective on Airbnb from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, CICC Research assumed coverage on Airbnb in a report on Friday, June 5th. They set an “outperform” rating and a $165.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Airbnb currently has an average rating of “Moderate Buy” and an average price target of $159.65.

Airbnb Profile

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.