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

Distillate Capital Partners LLC purchased a new stake in shares of Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, HoldingsChannel reports. The institutional investor purchased 130,809 shares of the company’s stock, valued at approximately $19,835,000. Airbnb accounts for 1.0% of Distillate Capital Partners LLC’s holdings, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new stake in Airbnb during the first quarter valued at approximately $25,000. Trust Co. of Vermont bought a new stake in shares of Airbnb during the 4th quarter valued at $27,000. New Millennium Group LLC bought a new stake in shares of Airbnb during the 2nd quarter valued at $28,000. Vima LLC purchased a new stake in shares of Airbnb in the 4th quarter worth $29,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

NASDAQ:ABNB opened at $129.03 on Tuesday. The firm has a market capitalization of $83.10 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $125.24 and a 200-day simple moving average of $144.25. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABNB. TD Cowen reduced their price target on Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Susquehanna reduced their target price on shares of Airbnb from $180.00 to $130.00 and set a “positive” rating for the company in a report on Wednesday, August 7th. Wedbush lowered their price target on shares of Airbnb from $165.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Finally, BMO Capital Markets decreased their price objective 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. Five investment 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. Based on data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $134.17.

Insider Buying and Selling

In related news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the transaction, the chief executive officer now owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the sale, the chief financial officer now owns 537,072 shares of the company’s stock, valued at $64,448,640. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,024 shares of company stock valued at $77,491,165. Company insiders own 27.83% of the company’s stock.

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.