Evolutionary Tree Capital Management LLC Lowers Position in Airbnb, Inc. (NASDAQ:ABNB)

Evolutionary Tree Capital Management LLC reduced its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 15.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,635 shares of the company’s stock after selling 1,982 shares during the period. Airbnb makes up approximately 1.7% of Evolutionary Tree Capital Management LLC’s portfolio, making the stock its 26th largest position. Evolutionary Tree Capital Management LLC’s holdings in Airbnb were worth $1,613,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in Airbnb during the 1st quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in Airbnb during the second quarter worth $28,000. Trust Co. of Vermont purchased a new position in Airbnb in the fourth quarter worth $27,000. Westend Capital Management LLC acquired a new stake in Airbnb in the first quarter valued at $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Airbnb during the 1st quarter worth $33,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at $23,579,141.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Airbnb news, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $145.88, for a total transaction of $145,880.00. Following the transaction, the chief accounting officer now directly owns 44,043 shares of the company’s stock, valued at $6,424,992.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 685,451 shares of company stock valued at $95,552,289. 27.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $155.00 price target on shares of Airbnb in a report on Monday, August 26th. Barclays dropped their target price on shares of Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Bank of America decreased their price target on Airbnb from $160.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets dropped their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on Airbnb from $130.00 to $111.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $134.17.

Airbnb Trading Up 1.9 %

Shares of ABNB stock opened at $131.18 on Friday. The firm’s 50-day simple moving average is $125.60 and its 200-day simple moving average is $144.73. 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 1-year low of $110.38 and a 1-year high of $170.10. The firm has a market cap of $84.49 billion, a P/E ratio of 17.56, a PEG ratio of 1.54 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.74 billion. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current year.

About Airbnb

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.