Shellback Capital LP Buys New Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Shellback Capital LP purchased a new position in Airbnb, Inc. (NASDAQ:ABNB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 150,000 shares of the company’s stock, valued at approximately $22,744,000. Airbnb accounts for about 1.7% of Shellback Capital LP’s investment portfolio, making the stock its 18th largest position.

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

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $129.25 on Friday. The business has a 50-day simple moving average of $124.15 and a two-hundred day simple moving average of $143.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $82.93 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.72 and a beta of 1.16. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (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 company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts expect that Airbnb, Inc. will post 4.39 earnings per share for the current year.

Analyst Ratings Changes

ABNB has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “underweight” rating and set a $94.00 target price on shares of Airbnb in a research note on Monday. B. Riley reduced their price target on shares of Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Sanford C. Bernstein lowered their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, Barclays reduced their target price on Airbnb from $110.00 to $100.00 and set an “underweight” rating on the stock 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $134.17.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $130.58, for a total value of $78,348.00. Following the transaction, the chief technology officer now owns 195,244 shares of the company’s stock, valued at $25,494,961.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $130.58, for a total transaction of $78,348.00. Following the completion of the sale, the chief technology officer now directly owns 195,244 shares in the company, valued at $25,494,961.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. The disclosure for this sale can be found here. Insiders have sold a total of 552,989 shares of company stock worth $75,824,030 in the last ninety days. Insiders own 27.83% of the company’s stock.

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.