Nuveen Asset Management LLC Trims Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Nuveen Asset Management LLC trimmed its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 79.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,277,545 shares of the company’s stock after selling 9,069,501 shares during the quarter. Nuveen Asset Management LLC’s holdings in Airbnb were worth $299,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Airbnb by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,472,559 shares of the company’s stock valued at $1,244,514,000 after purchasing an additional 72,991 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Airbnb by 147.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock valued at $571,505,000 after purchasing an additional 2,590,475 shares in the last quarter. Northern Trust Corp grew its position in shares of Airbnb by 8.4% during the 4th quarter. Northern Trust Corp now owns 4,296,835 shares of the company’s stock valued at $564,647,000 after purchasing an additional 331,607 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Airbnb by 15.5% during 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 in the last quarter. Finally, Norges Bank purchased a new position in shares of Airbnb during the 4th quarter valued at $433,374,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Elinor Mertz sold 25,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $160.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 459,988 shares of the company’s stock, valued at approximately $73,598,080. This represents a 5.15% 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, CEO Brian Chesky sold 230,772 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $161.16, for a total transaction of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at $1,934,067,139.08. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,983,669 shares of company stock valued at $266,947,699. Insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $137.45 on Thursday. The company has a market cap of $86.67 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The company has a 50-day moving average price of $121.48 and a 200-day moving average price of $131.26. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a 12 month low of $99.88 and a 12 month high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. As a group, equities analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of Airbnb in a research report on Friday, May 2nd. Susquehanna cut their target price on shares of Airbnb from $200.00 to $150.00 and set a “positive” rating for the company in a research report on Monday, May 5th. Baird R W upgraded shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Hsbc Global Res upgraded shares of Airbnb from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.43.

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.