Farallon Capital Management LLC Increases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Farallon Capital Management LLC boosted its position in Airbnb, Inc. (NASDAQ:ABNB) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,701,000 shares of the company’s stock after buying an additional 92,780 shares during the period. Airbnb makes up approximately 1.2% of Farallon Capital Management LLC’s investment portfolio, making the stock its 24th largest holding. Farallon Capital Management LLC owned 0.26% of Airbnb worth $257,923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Joel Isaacson & Co. LLC raised its position in shares of Airbnb by 2.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,986 shares of the company’s stock worth $493,000 after acquiring an additional 67 shares during the period. Miracle Mile Advisors LLC grew its holdings in Airbnb by 0.7% in the first quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after purchasing an additional 68 shares during the period. Farrow Financial Inc. grew its holdings in Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after purchasing an additional 69 shares during the period. Heritage Wealth Advisors increased its position in shares of Airbnb by 55.0% in the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Finally, GYL Financial Synergies LLC raised its stake in shares of Airbnb by 5.0% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the completion of the sale, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $150.02, for a total value of $1,745,482.70. Following the sale, the director now owns 30,435 shares of the company’s stock, valued at approximately $4,565,858.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 564,024 shares of company stock valued at $77,491,165. 27.83% of the stock is owned by corporate insiders.

Airbnb Price Performance

Airbnb stock opened at $129.03 on Tuesday. The stock has a market cap of $83.10 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a fifty day simple moving average of $125.60 and a 200-day simple moving average of $144.49. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a 12-month low of $110.38 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Equities analysts expect that Airbnb, Inc. will post 4.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABNB has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of Airbnb from $129.00 to $100.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets dropped their target price on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. UBS Group decreased their target price on Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reduced their price objective on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $134.17.

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.