Summa Corp. Buys New Stake in Airbnb, Inc. $ABNB

Summa Corp. acquired a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,532 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sit Investment Associates Inc. increased its holdings in Airbnb by 42.8% in the first quarter. Sit Investment Associates Inc. now owns 16,870 shares of the company’s stock valued at $2,015,000 after buying an additional 5,060 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in Airbnb by 74.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 20,514 shares of the company’s stock valued at $2,451,000 after buying an additional 8,780 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Airbnb by 53.1% in the first quarter. Plato Investment Management Ltd now owns 18,974 shares of the company’s stock valued at $2,291,000 after buying an additional 6,579 shares in the last quarter. Acadian Asset Management LLC increased its holdings 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 buying an additional 850,719 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Airbnb by 10.0% in the first quarter. Ritholtz Wealth Management now owns 5,328 shares of the company’s stock valued at $636,000 after buying an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $118.19 on Friday. The company’s 50-day moving average is $124.34 and its two-hundred day moving average is $127.27. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93. The firm has a market capitalization of $73.45 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.16 and a beta of 1.10.

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Barclays set a $105.00 target price on shares of Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their target price on shares of Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Airbnb in a research note on Wednesday. Finally, Citizens Jmp raised shares of Airbnb to a “hold” rating in a research note on Monday, August 11th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $141.81.

Insider Buying and Selling at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $125.20, for a total transaction of $281,199.20. Following the sale, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. This represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $123.57, for a total transaction of $29,162,520.00. Following the completion of the sale, the director directly owned 940,015 shares in the company, valued at approximately $116,157,653.55. This represents a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,430,876 shares of company stock valued at $182,694,292 in the last quarter. Corporate insiders own 27.91% of the company’s stock.

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.