Legal & General Group Plc trimmed its stake in shares of Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,650,918 shares of the company’s stock after selling 13,432 shares during the quarter. Legal & General Group Plc’s holdings in Airbnb were worth $359,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in ABNB. Vanguard Group Inc. grew its stake in Airbnb by 1.7% during the third quarter. Vanguard Group Inc. now owns 38,295,288 shares of the company’s stock worth $4,649,814,000 after purchasing an additional 649,323 shares during the period. Harris Associates L P grew its stake in Airbnb by 43.2% during the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the period. AQR Capital Management LLC grew its stake in Airbnb by 58.6% during the third quarter. AQR Capital Management LLC now owns 4,269,937 shares of the company’s stock worth $518,456,000 after purchasing an additional 1,577,338 shares during the period. Independent Franchise Partners LLP acquired a new stake in Airbnb during the third quarter worth approximately $505,672,000. Finally, Akre Capital Management LLC grew its stake in Airbnb by 19.0% during the second quarter. Akre Capital Management LLC now owns 3,473,243 shares of the company’s stock worth $459,649,000 after purchasing an additional 555,510 shares during the period. 80.76% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Weiss Ratings raised Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Oppenheimer raised Airbnb from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research note on Monday, May 4th. Scotiabank assumed coverage on Airbnb in a research note on Monday, May 4th. They set an “outperform” rating for the company. Tigress Financial decreased their target price on Airbnb from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Susquehanna raised their target price on Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.67.
Airbnb Trading Up 0.2%
Shares of Airbnb stock opened at $132.68 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44. Airbnb, Inc. has a 52 week low of $110.81 and a 52 week high of $147.25. The stock has a 50 day moving average price of $133.76 and a two-hundred day moving average price of $130.00. The stock has a market capitalization of $79.97 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20.
Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business posted $0.24 EPS. The company’s revenue was up 17.9% on a year-over-year basis. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.
Insider Buying and Selling at Airbnb
In other Airbnb news, insider Nathan Blecharczyk sold 2,739 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $131.40, for a total value of $359,904.60. Following the completion of the sale, the insider owned 81,631 shares of the company’s stock, valued at approximately $10,726,313.40. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Gebbia sold 54,000 shares of Airbnb stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $134.86, for a total value of $7,282,440.00. Following the transaction, the director directly owned 15 shares in the company, valued at approximately $2,022.90. The trade was a 99.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 454,317 shares of company stock valued at $62,219,594. Company insiders own 27.21% of the company’s stock.
Airbnb Company Profile
Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.
Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.
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