Airbnb, Inc. $ABNB is Union Square Park Capital Management LLC’s 9th Largest Position

Union Square Park Capital Management LLC cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 50.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the company’s stock after selling 30,000 shares during the period. Airbnb accounts for about 2.2% of Union Square Park Capital Management LLC’s holdings, making the stock its 9th biggest position. Union Square Park Capital Management LLC’s holdings in Airbnb were worth $3,788,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the completion of the sale, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at $65,907,372.90. This trade represents a 0.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 2,460 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $150.00, for a total value of $369,000.00. Following the completion of the sale, the director directly owned 2,595,119 shares of the company’s stock, valued at $389,267,850. This represents a 0.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,231,864 shares of company stock worth $308,474,278 over the last quarter. 27.21% of the stock is owned by company insiders.

Airbnb Stock Up 2.6%

ABNB stock opened at $141.10 on Friday. Airbnb, Inc. has a one year low of $110.81 and a one year high of $150.88. The stock has a market capitalization of $85.04 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average of $139.84 and a 200-day moving average of $134.62.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, analysts expect that Airbnb, Inc. will post 4.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABNB. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Citigroup reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. The Goldman Sachs Group set a $155.00 price target on Airbnb in a research report on Monday, July 20th. Wells Fargo & Company upped their price objective on Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Cantor Fitzgerald upgraded Airbnb from a “neutral” rating to an “overweight” rating in a research note on Monday, May 4th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.65.

About Airbnb

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.