Lecap Asset Management Ltd. Purchases Shares of 5,847 Airbnb, Inc. (NASDAQ:ABNB)

Lecap Asset Management Ltd. acquired a new position in shares of Airbnb, Inc. (NASDAQ:ABNB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,847 shares of the company’s stock, valued at approximately $698,000.

Several other institutional investors have also modified their holdings of ABNB. Park Square Financial Group LLC purchased a new position in shares of Airbnb in the 4th quarter valued at $26,000. Orion Capital Management LLC purchased a new position in shares of Airbnb during the fourth quarter worth about $28,000. Graney & King LLC purchased a new position in shares of Airbnb during the fourth quarter worth about $32,000. Whipplewood Advisors LLC acquired a new stake in shares of Airbnb during the fourth quarter worth about $44,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Airbnb by 31.6% in the 1st quarter. Rakuten Securities Inc. now owns 379 shares of the company’s stock valued at $45,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $133.72 on Friday. Airbnb, Inc. has a one year low of $99.88 and a one year high of $163.93. The firm has a market capitalization of $83.76 billion, a P/E ratio of 33.77, a PEG ratio of 2.43 and a beta of 1.14. The company’s fifty day moving average is $129.56 and its two-hundred day moving average is $130.47.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 30.91% and a net margin of 22.60%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts forecast that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total transaction of $23,305,636.60. Following the completion of the transaction, the director now directly owns 2,294,870 shares in the company, valued at approximately $249,590,061.20. This trade represents a 8.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nathan Blecharczyk sold 2,245 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $134.03, for a total transaction of $300,897.35. Following the completion of the sale, the insider now directly owns 188,173 shares in the company, valued at $25,220,827.19. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,646,087 shares of company stock worth $206,326,144. Company insiders own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial restated a “sell” rating and set a $106.00 price target (down previously from $112.00) on shares of Airbnb in a research note on Friday, May 30th. Morgan Stanley lifted their target price on shares of Airbnb from $125.00 to $130.00 and gave the company an “underweight” rating in a report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Airbnb from $160.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Phillip Securities lowered shares of Airbnb from a “hold” rating to a “moderate sell” rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.23.

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.