Caxton Associates LLP Decreases Stock Holdings in Airbnb, Inc. $ABNB

Caxton Associates LLP reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 67.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,009 shares of the company’s stock after selling 16,493 shares during the quarter. Caxton Associates LLP’s holdings in Airbnb were worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harris Associates L P increased its position in shares of Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company’s stock valued at $2,537,205,000 after acquiring an additional 3,240,477 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Airbnb by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company’s stock worth $1,368,338,000 after purchasing an additional 47,966 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Airbnb by 58.4% during the fourth quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company’s stock worth $917,845,000 after purchasing an additional 2,492,847 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Airbnb by 3.7% during the fourth quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company’s stock worth $824,356,000 after purchasing an additional 216,455 shares during the period. Finally, Independent Franchise Partners LLP grew its stake in shares of Airbnb by 23.6% in the fourth quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company’s stock worth $698,452,000 after purchasing an additional 981,624 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABNB shares. Oppenheimer upgraded Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Monday, May 4th. Wedbush initiated coverage on Airbnb in a research report on Thursday, July 16th. They issued a “neutral” rating and a $152.00 price objective on the stock. Morgan Stanley cut Airbnb from an “underweight” rating to an “underweight” rating in a research note on Monday, May 4th. Scotiabank assumed coverage on Airbnb in a report on Monday, May 4th. They set an “outperform” rating for the company. Finally, Barclays upped their target price on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

Insiders Place Their Bets

In other Airbnb news, Director Kenneth I. Chenault sold 8,346 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the transaction, the director owned 40,879 shares in the company, valued at approximately $6,131,850. This represents a 16.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the sale, the insider directly owned 81,677 shares in the company, valued at approximately $12,118,416.49. The trade was a 14.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,231,864 shares of company stock valued at $308,474,278. 27.21% of the stock is currently owned by corporate insiders.

Airbnb Price Performance

Shares of ABNB opened at $141.10 on Monday. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $150.88. 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 stock has a market cap 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 firm’s 50-day simple moving average is $139.84 and its two-hundred day simple moving average is $134.61.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts anticipate that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

Airbnb Profile

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.