Distillate Capital Partners LLC Purchases Shares of 130,809 Airbnb, Inc. (NASDAQ:ABNB)

Distillate Capital Partners LLC acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 130,809 shares of the company’s stock, valued at approximately $19,835,000. Airbnb makes up 1.0% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABNB. Farallon Capital Management LLC boosted its stake in shares of Airbnb by 5.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,701,000 shares of the company’s stock valued at $257,923,000 after purchasing an additional 92,780 shares in the last quarter. Xponance Inc. boosted its position in Airbnb by 2.8% during the second quarter. Xponance Inc. now owns 101,522 shares of the company’s stock valued at $15,394,000 after buying an additional 2,734 shares during the period. Tairen Capital Ltd boosted its position in Airbnb by 100.0% during the second quarter. Tairen Capital Ltd now owns 10,000 shares of the company’s stock valued at $1,516,000 after buying an additional 5,000 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Airbnb by 12.7% during the second quarter. Evergreen Capital Management LLC now owns 3,027 shares of the company’s stock valued at $459,000 after buying an additional 341 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Airbnb by 81.7% in the second quarter. Public Sector Pension Investment Board now owns 16,919 shares of the company’s stock worth $2,565,000 after buying an additional 7,609 shares during the period. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several analyst reports. Royal Bank of Canada dropped their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird decreased their price objective on shares of Airbnb from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Bank of America dropped their target price on shares of Airbnb from $160.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $134.17.

Airbnb Trading Down 1.6 %

Airbnb stock opened at $129.03 on Tuesday. Airbnb, Inc. has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a market capitalization of $83.10 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The business’s fifty day simple moving average is $125.24 and its two-hundred day simple moving average is $144.25. 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 (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 analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, equities analysts predict that Airbnb, Inc. will post 4.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $150.02, for a total value of $1,745,482.70. Following the completion of the transaction, the director now directly owns 30,435 shares in the company, valued at approximately $4,565,858.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $150.02, for a total transaction of $1,745,482.70. Following the sale, the director now directly owns 30,435 shares of the company’s stock, valued at $4,565,858.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the transaction, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The disclosure for this sale can be found here. Insiders have sold a total of 564,024 shares of company stock worth $77,491,165 over the last 90 days. 27.83% of the stock is currently owned by insiders.

Airbnb 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.