Lecap Asset Management Ltd. Reduces Stake in Airbnb, Inc. $ABNB

Lecap Asset Management Ltd. lowered its stake in Airbnb, Inc. (NASDAQ:ABNB) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,285 shares of the company’s stock after selling 1,562 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Airbnb were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sit Investment Associates Inc. lifted its stake in Airbnb by 42.8% in the 1st quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock worth $2,015,000 after purchasing an additional 5,060 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Airbnb by 74.8% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after acquiring an additional 8,780 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of Airbnb by 53.1% during the 1st quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock valued at $2,291,000 after acquiring an additional 6,579 shares during the last quarter. Acadian Asset Management LLC raised its stake in Airbnb by 52.9% in the first quarter. Acadian Asset Management LLC now owns 2,457,837 shares of the company’s stock valued at $293,590,000 after purchasing an additional 850,719 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Airbnb by 10.0% during the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock valued at $636,000 after purchasing an additional 484 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Airbnb Stock Down 0.7%

NASDAQ:ABNB opened at $121.49 on Friday. The firm has a market capitalization of $75.50 billion, a P/E ratio of 29.42, a P/E/G ratio of 2.23 and a beta of 1.10. The company has a fifty day moving average of $126.28 and a 200 day moving average of $127.60. Airbnb, Inc. has a 52 week low of $99.88 and a 52 week high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. As a group, analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity at Airbnb

In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the sale, the chief financial officer owned 461,361 shares of the company’s stock, valued at $62,680,505.46. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, August 18th. The shares were sold at an average price of $125.36, for a total transaction of $29,584,960.00. Following the completion of the sale, the director owned 15 shares in the company, valued at approximately $1,880.40. This trade represents a 99.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,673,726 shares of company stock worth $215,816,143 in the last 90 days. Company insiders own 27.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABNB. Wedbush dropped their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Citizens Jmp upgraded Airbnb to a “hold” rating in a report on Monday, August 11th. Royal Bank Of Canada raised their price objective on Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Truist Financial decreased their price target on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $141.81.

Airbnb Company 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.