Alamar Capital Management LLC Reduces Stake in Airbnb, Inc. $ABNB

Alamar Capital Management LLC decreased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 3.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 31,060 shares of the company’s stock after selling 1,075 shares during the period. Airbnb accounts for 2.2% of Alamar Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Alamar Capital Management LLC’s holdings in Airbnb were worth $3,710,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock worth $4,475,286,000 after purchasing an additional 604,120 shares in the last quarter. Harris Associates L P lifted its holdings in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares in the last quarter. Northern Trust Corp lifted its holdings in Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock worth $525,979,000 after purchasing an additional 106,135 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock worth $388,924,000 after purchasing an additional 1,389,251 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Airbnb by 512.0% during the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company’s stock worth $404,782,000 after purchasing an additional 2,577,000 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABNB. Cantor Fitzgerald reaffirmed an “underweight” rating and issued a $100.00 price target on shares of Airbnb in a report on Wednesday, May 14th. Barclays set a $105.00 price target on Airbnb and gave the company an “underweight” rating in a report on Thursday, August 7th. Royal Bank Of Canada raised their price target on Airbnb from $140.00 to $145.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. BNP Paribas raised Airbnb to a “hold” rating in a report on Wednesday, July 16th. Finally, UBS Group lowered their price target on Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $142.72.

Airbnb Price Performance

ABNB opened at $130.53 on Monday. The stock’s 50 day simple moving average is $132.20 and its 200 day simple moving average is $130.26. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The firm has a market cap of $81.12 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.38 and a beta of 1.13.

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

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the sale, the chief technology officer owned 202,006 shares in the company, valued at approximately $25,242,669.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nathan Blecharczyk sold 2,246 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the completion of the sale, the insider owned 182,514 shares of the company’s stock, valued at approximately $22,850,752.80. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,440,546 shares of company stock worth $191,913,918. 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.