Airbnb, Inc. (NASDAQ:ABNB) Shares Acquired by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,427 shares of the company’s stock after acquiring an additional 4,834 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Airbnb were worth $12,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Airbnb during the fourth quarter worth about $433,374,000. Clearbridge Investments LLC grew its position in Airbnb by 147.3% during the fourth quarter. Clearbridge Investments LLC now owns 4,349,026 shares of the company’s stock worth $571,505,000 after buying an additional 2,590,475 shares during the period. Principal Financial Group Inc. grew its position in Airbnb by 174.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after buying an additional 1,185,892 shares during the period. AQR Capital Management LLC grew its position in Airbnb by 52.1% during the fourth quarter. AQR Capital Management LLC now owns 2,365,847 shares of the company’s stock worth $310,896,000 after buying an additional 809,964 shares during the period. Finally, Parnassus Investments LLC grew its position in Airbnb by 8,324.9% during the fourth quarter. Parnassus Investments LLC now owns 655,539 shares of the company’s stock worth $86,144,000 after buying an additional 647,758 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on ABNB shares. Argus upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Truist Financial lowered their target price on shares of Airbnb from $123.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. HSBC upgraded shares of Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. B. Riley lowered their price target on shares of Airbnb from $145.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group lowered their price target on shares of Airbnb from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Airbnb has a consensus rating of “Hold” and a consensus price target of $141.43.

Insider Activity

In other news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60. Following the transaction, the director now owns 2,294,870 shares of the company’s stock, valued at approximately $249,590,061.20. This trade represents a 8.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $123.43, for a total transaction of $771,437.50. Following the completion of the transaction, the chief financial officer now directly owns 485,080 shares in the company, valued at approximately $59,873,424.40. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,983,669 shares of company stock valued at $266,947,699. Company insiders own 27.83% of the company’s stock.

Airbnb Stock Performance

NASDAQ:ABNB opened at $137.45 on Thursday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. The company has a market cap of $86.67 billion, a P/E ratio of 33.28, a P/E/G ratio of 3.52 and a beta of 1.14. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm’s 50 day moving average is $121.48 and its two-hundred day moving average is $131.26.

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

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.