Two Creeks Capital Management LP Sells 230,563 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Two Creeks Capital Management LP lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 29.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 553,703 shares of the company’s stock after selling 230,563 shares during the period. Airbnb comprises about 4.5% of Two Creeks Capital Management LP’s portfolio, making the stock its 8th largest holding. Two Creeks Capital Management LP’s holdings in Airbnb were worth $72,762,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ABNB. Norges Bank acquired a new position in Airbnb during the 4th quarter worth $433,374,000. Clearbridge Investments LLC boosted its stake in Airbnb by 147.3% in the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after buying an additional 2,590,475 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock valued at $245,268,000 after purchasing an additional 1,185,892 shares in the last quarter. Parnassus Investments LLC raised its stake in shares of Airbnb by 8,324.9% in the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock valued at $86,144,000 after acquiring an additional 647,758 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Airbnb by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 4,175,351 shares of the company’s stock valued at $548,683,000 after purchasing an additional 558,856 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABNB has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Airbnb from $125.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, April 17th. Truist Financial cut their price objective on Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Barclays increased their target price on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a report on Friday, February 14th. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of Airbnb in a report on Tuesday, February 4th. Finally, DA Davidson upped their target price on Airbnb from $131.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $146.94.

Airbnb Stock Performance

Shares of Airbnb stock opened at $114.91 on Wednesday. The stock has a market cap of $72.46 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $166.74. The firm’s 50-day moving average is $128.09 and its 200 day moving average is $132.15.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. Sell-side analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares of the company’s stock, valued at $26,046,300. The trade was a 52.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $129.21, for a total transaction of $27,687,764.85. Following the completion of the sale, the director now owns 857,145 shares in the company, valued at $110,751,705.45. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,998,146 shares of company stock valued at $275,624,925 over the last ninety days. 27.83% of the stock is currently owned by corporate insiders.

Airbnb Company 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.