Mitsubishi UFJ Trust & Banking Corp Boosts Stock Holdings in Airbnb, Inc. $ABNB

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,291 shares of the company’s stock after purchasing an additional 34,573 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Airbnb were worth $30,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABNB. Aster Capital Management DIFC Ltd purchased a new position in shares of Airbnb in the 3rd quarter valued at $25,000. ORG Partners LLC raised its stake in shares of Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Wiser Advisor Group LLC purchased a new position in shares of Airbnb in the 3rd quarter valued at $27,000. Sunbelt Securities Inc. raised its stake in shares of Airbnb by 397.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Finally, Kelleher Financial Advisors purchased a new position in shares of Airbnb in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial raised shares of Airbnb from a “sell” rating to a “hold” rating and raised their target price for the company from $107.00 to $129.00 in a research note on Thursday, March 26th. Wells Fargo & Company raised shares of Airbnb from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $136.00 to $178.00 in a research note on Wednesday, April 22nd. UBS Group raised their target price on shares of Airbnb from $149.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday. TD Cowen raised their target price on shares of Airbnb from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $135.00 target price on shares of Airbnb in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus price target of $151.43.

Airbnb Trading Up 0.9%

ABNB opened at $140.28 on Thursday. The company has a fifty day simple moving average of $132.25 and a 200 day simple moving average of $128.77. The firm has a market cap of $85.39 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 1.71 and a beta of 1.15. Airbnb, Inc. has a twelve month low of $110.81 and a twelve month high of $147.25.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. Airbnb’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. On average, analysts forecast that Airbnb, Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, insider Nathan Blecharczyk sold 24,788 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $145.86, for a total transaction of $3,615,577.68. Following the completion of the transaction, the insider directly owned 11,920 shares of the company’s stock, valued at $1,738,651.20. This trade represents a 67.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $130.99, for a total transaction of $491,212.50. Following the transaction, the chief financial officer directly owned 394,359 shares of the company’s stock, valued at approximately $51,657,085.41. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 399,075 shares of company stock valued at $52,168,585. Corporate insiders own 27.91% 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.