DnB Asset Management AS Increases Holdings in Airbnb, Inc. (NASDAQ:ABNB)

DnB Asset Management AS increased its position in shares of Airbnb, Inc. (NASDAQ:ABNB) by 5.9% in the fourth quarter, HoldingsChannel reports. The firm owned 79,350 shares of the company’s stock after acquiring an additional 4,409 shares during the quarter. DnB Asset Management AS’s holdings in Airbnb were worth $10,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in Airbnb during the 4th quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new stake in shares of Airbnb in the fourth quarter worth $26,000. Graney & King LLC purchased a new position in shares of Airbnb during the fourth quarter worth $32,000. Whipplewood Advisors LLC acquired a new position in Airbnb during the fourth quarter valued at $44,000. Finally, Cromwell Holdings LLC boosted its holdings in Airbnb by 82.5% in the fourth quarter. Cromwell Holdings LLC now owns 376 shares of the company’s stock valued at $49,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Price Performance

ABNB stock opened at $120.69 on Friday. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $166.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $76.10 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The business has a 50 day simple moving average of $135.29 and a 200-day simple moving average of $133.71.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.29% and a net margin of 23.85%. Equities research analysts anticipate that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ABNB. Argus upgraded Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. HSBC raised Airbnb from a “hold” rating to a “buy” rating in a report on Friday, February 14th. UBS Group raised their price objective on shares of Airbnb from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. The Goldman Sachs Group upgraded shares of Airbnb from a “sell” rating to a “neutral” rating and boosted their target price for the company from $110.00 to $153.00 in a research note on Friday, February 14th. Finally, Evercore ISI raised their price target on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $147.36.

Insider Buying and Selling

In other news, CEO Brian Chesky sold 230,772 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $161.16, for a total value of $37,191,215.52. Following the completion of the sale, the chief executive officer now owns 12,000,913 shares of the company’s stock, valued at $1,934,067,139.08. This represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Aristotle N. Balogh sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $131.87, for a total value of $2,637,400.00. Following the completion of the transaction, the chief technology officer now owns 185,414 shares in the company, valued at $24,450,544.18. This represents a 9.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,270,894 shares of company stock worth $317,578,168. Insiders own 27.83% of the company’s stock.

Airbnb Company 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.