Airbnb, Inc. $ABNB Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 4.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 127,579 shares of the company’s stock after selling 6,572 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Airbnb were worth $17,336,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Caxton Associates LLP purchased a new stake in shares of Airbnb in the first quarter valued at approximately $258,000. Intech Investment Management LLC grew its position in shares of Airbnb by 55.8% in the first quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock valued at $1,453,000 after purchasing an additional 4,353 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Airbnb by 18.8% in the second quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock valued at $776,000 after purchasing an additional 927 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Airbnb in the second quarter valued at approximately $411,000. Finally, NewEdge Advisors LLC grew its position in shares of Airbnb by 9.8% in the second quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock valued at $7,153,000 after purchasing an additional 4,811 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Analyst Upgrades and Downgrades

ABNB has been the subject of a number of analyst reports. Susquehanna upped their price target on Airbnb from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $170.00 price objective on shares of Airbnb in a research report on Friday, May 8th. B. Riley Financial reiterated a “buy” rating on shares of Airbnb in a research report on Friday, May 8th. Truist Financial upgraded Airbnb from a “sell” rating to a “hold” rating and increased their price objective for the stock from $107.00 to $129.00 in a research report on Thursday, March 26th. Finally, HSBC lowered Airbnb from a “hold” rating to a “hold” rating in a research report on Monday, May 4th. Two 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.67.

Airbnb Stock Down 2.3%

Shares of NASDAQ ABNB opened at $131.16 on Wednesday. The stock has a market cap of $79.05 billion, a P/E ratio of 32.31, a PEG ratio of 1.44 and a beta of 1.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb, Inc. has a 12-month low of $110.81 and a 12-month high of $147.25. The business’s fifty day simple moving average is $133.49 and its 200-day simple moving average is $129.70.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities analysts predict that Airbnb, Inc. will post 4.91 EPS for the current fiscal year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 627 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $145.67, for a total value of $91,335.09. Following the sale, the insider directly owned 11,920 shares in the company, valued at approximately $1,736,386.40. This trade represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $143.00, for a total value of $536,250.00. Following the completion of the sale, the chief financial officer owned 463,415 shares in the company, valued at approximately $66,268,345. The trade was a 0.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 459,838 shares of company stock worth $62,185,245. Corporate insiders own 27.21% of the company’s stock.

Airbnb 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.