Hodges Capital Management Inc. Has $21.81 Million Stake in Airbnb, Inc. (NASDAQ:ABNB)

Hodges Capital Management Inc. decreased its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 10.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,230 shares of the company’s stock after selling 15,694 shares during the quarter. Airbnb accounts for about 1.4% of Hodges Capital Management Inc.’s portfolio, making the stock its 18th largest holding. Hodges Capital Management Inc.’s holdings in Airbnb were worth $21,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New England Research & Management Inc. increased its holdings in Airbnb by 108.9% in the 1st quarter. New England Research & Management Inc. now owns 6,425 shares of the company’s stock valued at $1,060,000 after buying an additional 3,350 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Airbnb by 163.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,809 shares of the company’s stock valued at $9,866,000 after buying an additional 37,127 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Airbnb by 3.8% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,796 shares of the company’s stock valued at $626,000 after buying an additional 139 shares during the period. Revolve Wealth Partners LLC bought a new position in Airbnb in the 1st quarter valued at about $515,000. Finally, Sunbelt Securities Inc. increased its holdings in Airbnb by 26.3% in the 1st quarter. Sunbelt Securities Inc. now owns 1,139 shares of the company’s stock valued at $188,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $146.08, for a total transaction of $16,855,440.80. Following the sale, the chief executive officer now directly owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Brian Chesky sold 115,385 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $146.08, for a total value of $16,855,440.80. Following the sale, the chief executive officer now directly owns 14,260,457 shares of the company’s stock, valued at $2,083,167,558.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David C. Bernstein sold 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $145.50, for a total transaction of $291,000.00. Following the completion of the sale, the chief accounting officer now directly owns 45,043 shares in the company, valued at $6,553,756.50. The disclosure for this sale can be found here. Insiders have sold a total of 413,287 shares of company stock valued at $61,071,555 over the last three months. 27.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABNB. Bank of America lifted their price target on shares of Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. BMO Capital Markets boosted their price target on shares of Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Piper Sandler Companies boosted their target price on shares of Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Piper Sandler restated a “neutral” rating and set a $155.00 price objective (up previously from $145.00) on shares of Airbnb in a report on Thursday, May 9th. Finally, Truist Financial upped their price objective on shares of Airbnb from $131.00 to $134.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus target price of $152.38.

Airbnb Stock Performance

ABNB traded up $0.02 during trading on Friday, hitting $151.63. 3,842,498 shares of the company traded hands, compared to its average volume of 3,646,274. The firm has a market cap of $97.66 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. The stock’s fifty day moving average is $150.43 and its 200 day moving average is $150.91. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb, Inc. has a one year low of $113.24 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, equities analysts predict that Airbnb, Inc. will post 4.65 EPS for the current fiscal year.

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.