Clarkston Capital Partners LLC Reduces Position in Airbnb, Inc. $ABNB

Clarkston Capital Partners LLC decreased its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 24.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,060 shares of the company’s stock after selling 47,735 shares during the period. Airbnb comprises approximately 1.4% of Clarkston Capital Partners LLC’s holdings, making the stock its 27th largest position. Clarkston Capital Partners LLC’s holdings in Airbnb were worth $18,823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC grew its holdings in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Transamerica Financial Advisors LLC raised its stake in shares of Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after buying an additional 112 shares during the period. Entrust Financial LLC purchased a new position in shares of Airbnb during the 4th quarter valued at about $27,000. Meeder Asset Management Inc. lifted its position in shares of Airbnb by 96.3% during the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Down 1.8%

ABNB opened at $137.57 on Friday. The firm has a 50-day simple moving average of $139.68 and a two-hundred day simple moving average of $134.58. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $150.88. The company has a market capitalization of $82.91 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Analysts forecast that Airbnb, Inc. will post 4.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Cantor Fitzgerald raised shares of Airbnb from a “neutral” rating to an “overweight” rating in a report on Monday, May 4th. Wells Fargo & Company upped their price target on shares of Airbnb from $178.00 to $181.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Susquehanna lifted their target price on shares of Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $155.00 target price on shares of Airbnb in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued 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 price target of $159.65.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 88,366 shares of Airbnb stock in a transaction that occurred on 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 sale, the insider owned 12,370 shares of the company’s stock, valued at $1,803,669.70. The trade was a 87.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $132.22, for a total value of $35,136,936.12. Following the transaction, the chief executive officer owned 11,206,389 shares of the company’s stock, valued at $1,481,708,753.58. This represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,231,864 shares of company stock worth $308,474,278 in the last quarter. 27.21% of the stock is owned by corporate insiders.

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.