Harvest Fund Management Co. Ltd Acquires 3,596 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Harvest Fund Management Co. Ltd lifted its position in Airbnb, Inc. (NASDAQ:ABNB) by 96.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,328 shares of the company’s stock after purchasing an additional 3,596 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Airbnb were worth $993,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Airbnb by 43.0% in the third quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after acquiring an additional 10,301,746 shares in the last quarter. Northern Trust Corp boosted its holdings in Airbnb by 41.3% in the third quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after acquiring an additional 1,276,456 shares in the last quarter. Legal & General Group Plc boosted its holdings in Airbnb by 5.0% in the third quarter. Legal & General Group Plc now owns 2,568,807 shares of the company’s stock valued at $352,466,000 after acquiring an additional 121,651 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its holdings in Airbnb by 48.3% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,496,885 shares of the company’s stock valued at $339,926,000 after acquiring an additional 813,074 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Airbnb by 69.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,301,395 shares of the company’s stock valued at $315,774,000 after buying an additional 943,520 shares during the period. Institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 2.8 %

ABNB traded up $4.34 during trading on Tuesday, reaching $160.95. The company had a trading volume of 3,434,315 shares, compared to its average volume of 4,580,027. Airbnb, Inc. has a 52 week low of $103.55 and a 52 week high of $170.10. The stock has a market cap of $104.15 billion, a P/E ratio of 22.23, a PEG ratio of 1.99 and a beta of 1.25. The business has a 50 day simple moving average of $159.80 and a 200-day simple moving average of $142.89. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last released its earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. On average, equities analysts anticipate that Airbnb, Inc. will post 4.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey D. Jordan sold 8,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,200,000.00. Following the transaction, the director now owns 151,646 shares in the company, valued at $22,746,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Nathan Blecharczyk sold 60,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $146.58, for a total transaction of $8,794,800.00. Following the sale, the insider now owns 473,762 shares in the company, valued at $69,444,033.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 8,000 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $150.00, for a total value of $1,200,000.00. Following the sale, the director now owns 151,646 shares in the company, valued at approximately $22,746,900. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,674 shares of company stock worth $73,516,515. Company insiders own 30.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ABNB shares. JPMorgan Chase & Co. raised their price objective on Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Susquehanna raised their price objective on Airbnb from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, February 14th. Royal Bank of Canada raised their price objective on Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. BMO Capital Markets raised their price objective on Airbnb from $134.00 to $135.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. Finally, Wedbush reissued a “neutral” rating and set a $160.00 price objective on shares of Airbnb in a research report on Thursday, April 18th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $147.58.

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.