KLP Kapitalforvaltning AS Grows Holdings in Airbnb, Inc. $ABNB

KLP Kapitalforvaltning AS boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 201,900 shares of the company’s stock after purchasing an additional 3,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Airbnb were worth $26,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Airbnb by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock worth $4,475,286,000 after buying an additional 604,120 shares during the last quarter. Harris Associates L P raised its position in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after buying an additional 4,598,125 shares during the last quarter. Northern Trust Corp raised its position in Airbnb by 2.5% during the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock worth $525,979,000 after buying an additional 106,135 shares during the last quarter. AQR Capital Management LLC raised its position in Airbnb by 81.0% during the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after buying an additional 1,916,676 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Airbnb by 74.4% during the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock worth $388,924,000 after buying an additional 1,389,251 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Down 0.4%

Shares of ABNB opened at $119.85 on Wednesday. The company has a 50-day simple moving average of $125.08 and a 200-day simple moving average of $127.47. The company has a market capitalization of $74.48 billion, a PE ratio of 29.02, a P/E/G ratio of 2.20 and a beta of 1.10. Airbnb, Inc. has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm posted $0.86 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Activity

In related news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $138.83, for a total transaction of $32,763,880.00. Following the completion of the transaction, the director directly owned 472,015 shares in the company, valued at $65,529,842.45. The trade was a 33.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David C. Bernstein sold 5,000 shares of Airbnb stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $142.00, for a total value of $710,000.00. Following the transaction, the chief accounting officer owned 42,619 shares of the company’s stock, valued at $6,051,898. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,431,476 shares of company stock worth $182,776,618. 27.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABNB. Truist Financial cut their price objective on shares of Airbnb from $106.00 to $104.00 and set a “sell” rating for the company in a research report on Wednesday, September 3rd. Wedbush cut their price objective on shares of Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Barclays set a $105.00 price objective on shares of Airbnb and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Finally, BNP Paribas upgraded shares of Airbnb to a “hold” rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and a consensus price target of $141.81.

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.