Symmetry Investments LP Acquires 57,493 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Symmetry Investments LP raised its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 262.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,387 shares of the company’s stock after acquiring an additional 57,493 shares during the period. Airbnb comprises 1.3% of Symmetry Investments LP’s holdings, making the stock its 17th biggest holding. Symmetry Investments LP’s holdings in Airbnb were worth $12,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ABNB. Transcendent Capital Group LLC bought a new position in Airbnb in the 1st quarter valued at approximately $25,000. Trust Co. of Vermont bought a new stake in Airbnb during the 4th quarter worth $27,000. New Millennium Group LLC bought a new stake in Airbnb during the 2nd quarter worth $28,000. Vima LLC acquired a new position in Airbnb in the 4th quarter worth about $29,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the second quarter valued at about $30,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 5,442 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $150.00, for a total value of $816,300.00. Following the completion of the sale, the director now owns 42,087 shares in the company, valued at approximately $6,313,050. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Joseph Gebbia sold 5,442 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $150.00, for a total transaction of $816,300.00. Following the completion of the sale, the director now owns 42,087 shares in the company, valued at $6,313,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 115,385 shares of Airbnb stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $148.68, for a total transaction of $17,155,441.80. Following the completion of the sale, the chief executive officer now directly owns 14,029,687 shares in the company, valued at approximately $2,085,933,863.16. The disclosure for this sale can be found here. Insiders sold a total of 685,451 shares of company stock worth $95,552,289 over the last quarter. Insiders own 27.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABNB. Morgan Stanley upped their price objective on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Susquehanna dropped their price target on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th. Bank of America decreased their price objective on Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Piper Sandler reduced their price target on Airbnb from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $134.17.

Airbnb Trading Up 1.9 %

ABNB opened at $131.18 on Friday. The firm has a market capitalization of $84.49 billion, a PE ratio of 17.56, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company’s 50-day moving average is $125.60 and its 200 day moving average is $144.73.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company posted $0.98 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts predict that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

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.