Airbnb, Inc. $ABNB Stock Holdings Increased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 23.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,053,392 shares of the company’s stock after buying an additional 202,308 shares during the quarter. Hsbc Holdings PLC’s holdings in Airbnb were worth $142,972,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Sumitomo Life Insurance Co. increased its stake in shares of Airbnb by 15.0% in the third quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock worth $8,022,000 after acquiring an additional 8,636 shares during the last quarter. Merit Financial Group LLC boosted its position in Airbnb by 72.1% during the fourth quarter. Merit Financial Group LLC now owns 32,994 shares of the company’s stock valued at $4,478,000 after purchasing an additional 13,818 shares during the last quarter. ARK Investment Management LLC boosted its position in Airbnb by 30.7% during the third quarter. ARK Investment Management LLC now owns 1,035,828 shares of the company’s stock valued at $125,770,000 after purchasing an additional 243,299 shares during the last quarter. Victory Capital Management Inc. grew its stake in Airbnb by 14.6% in the third quarter. Victory Capital Management Inc. now owns 1,529,652 shares of the company’s stock valued at $185,730,000 after purchasing an additional 195,055 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new position in Airbnb in the fourth quarter valued at about $2,785,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 7,433 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $136.24, for a total transaction of $1,012,671.92. Following the completion of the sale, the chief financial officer owned 449,040 shares of the company’s stock, valued at $61,177,209.60. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 265,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $138.51, for a total value of $36,705,150.00. Following the transaction, the director owned 2,917,355 shares in the company, valued at approximately $404,082,841.05. This trade represents a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,972,860 shares of company stock worth $267,555,449. 27.21% of the stock is currently owned by insiders.

Airbnb Price Performance

NASDAQ ABNB opened at $142.41 on Friday. Airbnb, Inc. has a fifty-two week low of $110.81 and a fifty-two week high of $147.25. The stock’s 50-day moving average is $136.36 and its two-hundred day moving average is $132.10. The firm has a market cap of $85.83 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. On average, analysts anticipate that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABNB has been the topic of several research reports. Jefferies Financial Group set a $160.00 target price on Airbnb in a research report on Friday, June 5th. Weiss Ratings upgraded Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $170.00 price target on shares of Airbnb in a research note on Friday, May 8th. HC Wainwright upgraded Airbnb to a “buy” rating in a report on Monday, May 4th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Airbnb in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.96.

About Airbnb

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.