Geode Capital Management LLC Grows Stock Holdings in Airbnb, Inc. (NASDAQ:ABNB)

Geode Capital Management LLC raised its stake in Airbnb, Inc. (NASDAQ:ABNB) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,472,559 shares of the company’s stock after buying an additional 72,991 shares during the period. Geode Capital Management LLC’s holdings in Airbnb were worth $1,244,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CreativeOne Wealth LLC purchased a new stake in Airbnb during the third quarter worth $326,000. Public Sector Pension Investment Board boosted its position in shares of Airbnb by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 18,919 shares of the company’s stock worth $2,399,000 after buying an additional 2,000 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Airbnb in the 3rd quarter valued at about $899,000. Bamco Inc. NY purchased a new position in Airbnb during the 3rd quarter valued at about $16,993,000. Finally, Benjamin Edwards Inc. acquired a new position in Airbnb during the third quarter worth about $711,000. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ABNB shares. Jefferies Financial Group raised shares of Airbnb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $185.00 in a research note on Monday, March 10th. Robert W. Baird cut their price target on Airbnb from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Canaccord Genuity Group increased their price objective on Airbnb from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Argus raised shares of Airbnb from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, B. Riley raised their price target on shares of Airbnb from $131.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $147.36.

Insider Transactions at Airbnb

In other news, insider Nathan Blecharczyk sold 183,078 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at approximately $26,046,300. This represents a 52.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Aristotle N. Balogh sold 20,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $131.87, for a total transaction of $2,637,400.00. Following the completion of the sale, the chief technology officer now directly 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 have sold 2,270,894 shares of company stock valued at $317,578,168. 27.83% of the stock is currently owned by insiders.

Airbnb Stock Up 1.4 %

NASDAQ ABNB opened at $121.18 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb, Inc. has a fifty-two week low of $110.38 and a fifty-two week high of $166.74. The business has a 50 day moving average price of $134.74 and a two-hundred day moving average price of $133.87. The stock has a market cap of $76.41 billion, a PE ratio of 29.34, a P/E/G ratio of 3.52 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. As a group, sell-side analysts predict that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

About Airbnb

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.