Seven Eight Capital LP Invests $696,000 in Airbnb, Inc. (NASDAQ:ABNB)

Seven Eight Capital LP acquired a new position in Airbnb, Inc. (NASDAQ:ABNB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,220 shares of the company’s stock, valued at approximately $696,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Premier Path Wealth Partners LLC purchased a new position in Airbnb during the fourth quarter valued at $307,000. Mutual Advisors LLC purchased a new position in Airbnb during the fourth quarter valued at $357,000. HB Wealth Management LLC grew its stake in Airbnb by 12.7% during the fourth quarter. HB Wealth Management LLC now owns 3,402 shares of the company’s stock valued at $463,000 after acquiring an additional 384 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in Airbnb by 20.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 27,707 shares of the company’s stock valued at $3,772,000 after acquiring an additional 4,701 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Airbnb during the fourth quarter valued at $26,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Airbnb Stock Down 1.0 %

NASDAQ ABNB traded down $1.43 during trading on Tuesday, reaching $148.75. 2,674,354 shares of the company’s stock traded hands, compared to its average volume of 4,324,890. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $95.80 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18. The company’s 50 day simple moving average is $148.06 and its two-hundred day simple moving average is $152.28. Airbnb, Inc. has a 12-month low of $113.24 and a 12-month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts forecast that Airbnb, Inc. will post 4.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $148.47, for a total transaction of $89,082.00. Following the sale, the chief technology officer now owns 207,574 shares of the company’s stock, valued at approximately $30,818,511.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $148.47, for a total transaction of $89,082.00. Following the completion of the sale, the chief technology officer now directly owns 207,574 shares in the company, valued at approximately $30,818,511.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David C. Bernstein sold 6,000 shares of Airbnb stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $147.00, for a total transaction of $882,000.00. Following the sale, the chief accounting officer now owns 47,043 shares of the company’s stock, valued at $6,915,321. The disclosure for this sale can be found here. In the last quarter, insiders have sold 540,707 shares of company stock valued at $80,386,079. Insiders own 27.83% of the company’s stock.

Wall Street Analyst Weigh In

ABNB has been the subject of a number of recent research reports. HSBC cut shares of Airbnb from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $160.00 to $156.00 in a research note on Thursday, May 9th. BMO Capital Markets lifted their price objective on shares of Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. Piper Sandler Companies lifted their price objective on shares of Airbnb from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Tigress Financial lifted their price objective on shares of Airbnb from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, DA Davidson reissued a “neutral” rating and issued a $145.00 price objective on shares of Airbnb in a research note on Thursday, May 9th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $152.74.

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.