Delta Global Management LP Sells 4,438 Shares of Airbnb, Inc. $ABNB

Delta Global Management LP decreased its stake in Airbnb, Inc. (NASDAQ:ABNB) by 38.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,116 shares of the company’s stock after selling 4,438 shares during the period. Delta Global Management LP’s holdings in Airbnb were worth $899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. ORG Partners LLC lifted its stake in shares of Airbnb by 97.0% in the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the period. Transamerica Financial Advisors LLC increased its position in Airbnb by 143.6% during 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 period. Entrust Financial LLC acquired a new stake in Airbnb during the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in Airbnb by 96.3% during the 1st quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Airbnb by 397.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 294,903 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares in the company, valued at $389,250,550.36. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 88,366 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $145.81, for a total value of $12,884,646.46. Following the sale, the insider directly owned 12,370 shares of the company’s stock, valued at approximately $1,803,669.70. This represents a 87.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,231,864 shares of company stock worth $308,474,278 in the last 90 days. Insiders own 27.21% of the company’s stock.

Airbnb Price Performance

ABNB opened at $141.10 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The company’s 50-day moving average is $139.84 and its 200 day moving average is $134.61. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $150.88. The firm has a market capitalization of $85.04 billion, a P/E ratio of 34.75, a PEG ratio of 1.51 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABNB shares. DA Davidson boosted their price target on Airbnb from $150.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Robert W. Baird raised their price objective on shares of Airbnb from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Citizens Jmp lifted their price objective on shares of Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. HSBC downgraded shares of Airbnb from a “hold” rating to a “hold” rating in a research report on Monday, May 4th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Airbnb in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.